ANCHORAGE, ALASKA – The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) convened for its Annual Meeting in Anchorage and via Teams Webinar on September 25-26, 2024. Key discussions included the Fund’s Fiscal Year 2024 performance, investment strategy, and governance initiatives focused on ensuring the Fund’s sustainability and growth for all Alaskans.

The Board approved the recommended revisions to their Charters and Governance Policies, the annual independent audit report, the proposed FY26 budget, and the meeting calendar for 2025-2026. The Board elected corporate officers and appointed committee roles, extending the tenures of Trustee Jason Brune as Chair, Trustee Adam Crum as Vice Chair and Governance Committee Chair, and Trustee Ryan Anderson as Audit Committee Chair.

“The Board of the Alaska Permanent Fund Corporation is committed to providing prudent and meaningful oversight as fiduciaries. The Permanent Fund holds great significance and importance to Alaska. I encourage Alaskans to engage with and learn more about it. Our Board of Trustees meeting discussions with APFC management, advisors, and stakeholders demonstrates our dedication to transparency by the highest industry standards,” stated Trustee Chair Jason Brune.

Jim Parise, Director of Fixed Income/Deputy CIO, and Matt Olmsted, Senior Portfolio Manager of Fixed Income, presented on the resilience and stability of the Fixed Income portfolio, which achieved a return of 4.93%.

“We are proud to consistently outperform our benchmarks, resulting in exceptional returns for the fixed income portfolio,” said Jim Parise. “Since bringing all fixed income assets in-house two years ago, we’ve been able to deliver strong returns for Alaskans while upholding the legacy of the Fund’s first asset class.”

In a commitment to strong governance, the Board also voted to approve updates to the APFC Governance Manual. The updates are aimed at aligning APFC’s governance framework with industry best practices and ensuring that APFC remains at the forefront of investment management and oversight. The Board elected to expand the Audit Committee’s scope of authority to include ethics disclosures and cybersecurity program review. Also, amendments were adopted to the Charters to enhance the Investment Advisor Group (IAG)’s contributions in supporting the work of the Board and Staff.

Chair Brune expressed his appreciation for the IAG, stating, “I would like to thank the work of our IAG members, George Zinn, John Skjervem, and Britt Harris, for providing relevant and insightful perspectives on all aspects of managing a multi-billion dollar endowment. Their time, commitment, and knowledge sharing are particularly valuable given the complexities of institutional investing, and we thank them for their contributions to the stewardship of the Alaska Permanent Fund.”

202409_Annual Meeting_Press Release