APFC is committed to meeting the performance objectives established by the Board of Trustees and achieving the goals set forth in APFC’s Strategic Plan to develop and fully implement best-in-class asset allocation and asset class investment capabilities to produce target long-term total returns. Our investment performance and financial results are disclosed through monthly and annual reports.

Permanent Fund Value

Permanent Fund Return

Total Fund Value

as of August 31, 2023



$56.5 B

Unrealized Gains: $11.4 B

ERA Uncommitted

$0.8 B

+ Committed FY25 POMV $3.7 B
+ FY24 Inflation Proofing $1.4 B + Unrealized Gains $1.2 B

Rate of Return

FYTD AS OF August 31, 2023


7.62% over 5 years


Assets Under Management

Unaudited, as of market close on Tuesday September 26, 2023

These daily values reflect all assets held in the portfolio and their market valuations on a given day.  The valuations take into account (have deducted) investment-related liabilities, such as pending purchases.  They do not reflect APFC’s obligations, such as income distributable to the General Fund (POMV) and accrued operating expenses/manager fees, which are reported on the monthly financial statements.


Tuesday September 26, 2023





Private Equity


Real Estate


Private Income and Infrastructure


Absolute Return


Risk Parity






Fund Value

The Total Fund Value is comprised of the Principal (non-spendable) and the Earnings Reserve Account (spendable). The Fund market value, which is based upon the previous day’s market close, fluctuates daily based on the current market conditions. Monthly financial statements reflect the current value of the Fund. An annual report is produced at the end of each fiscal year (July 1 – June 30) which contains year end Fund values, performance and audit information. 

HISTORICAL Values of PRINCIPAL & Earnings Reserve

HISTORICAL Values of PRINCIPAL & Earnings Reserve

Growth of the Fund

All dollars in millions

Components of Principal