When it comes to investments, how familiar are you with custody? A custodial relationship for investment management is a relationship in which a designated agent is given a layer of control to assist the owner in transacting and safekeeping their assets. The Permanent Fund’s stocks, bonds, treasuries and other investments aren’t physically or digitally stored in the APFC office in Juneau, Alaska. A custodial bank holds these nearly 17,000 unique investments that span the globe, representing 28 currency denominations deposited in more than 700 bank accounts on behalf of the Alaska Permanent Fund. Though these assets are held in custody, APFC’s Trade Operations team, in partnership with the rest of the Finance Department, is responsible for ensuring that they are reconciled and processed to support the investment decisions of the Alaska Permanent Fund Corporation’s portfolio managers.