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Home - Alaska Permanent Fund CorporationHome - Alaska Permanent Fund Corporation FACEBOOKLINKEDINCONTACT USSEARCHWho We AreAlaska’s Permanent Fund Investment ManagerOur LeadershipA Pioneering Investment ModelPartnership ApproachGood Governance Is Good BusinessFund StructureFund ManagementHistoryWhat We DoInvestment Management for AlaskaThe Permanent FundOther Funds Under ManagementInvestment Team LeadershipDiversification Framework – Asset AllocationRisk ManagementFund Investment – Asset ClassesPublic EquitiesFixed IncomeReal EstateAbsolute ReturnPrivate EquityIn-State InvestmentsPrivate IncomeTactical OpportunitiesCashBoard of TrusteesBoard of TrusteesKnow Your TrusteesOfficers and CommitteesBoard of Trustees Meetings & Past VideosInvestment Advisory GroupGeneral Performance Consultant2024 Strategic PlanResolutions of the Board of TrusteesPerformanceOur PerformanceFinancial and Performance ReportsFund NewsFund NewsAPFC PerspectivesResources2024 Annual ReportReport ArchiveAlaska’s Renewable Revenue CurriculumFrequently Asked QuestionsCareers INVESTING FOR ALASKAINVESTING FOR THE LONG RUNWHO WE AREAPFC is a state-owned corporation, based in Juneau, that manages the assets of the Alaska Permanent Fund and other funds designated by law, such as the Alaska Mental Health Trust Fund. The APFC Board of Trustees has established By-Laws, Governance and Investment Policies, and Resolutions to support an efficient and effective management structure.Good Governance Is Good BusinessOur vision is to deliver OUTstanding returnsfor the benefit of all current and future generations of alaskansA Pioneering Investment ModelTotal Fund Valueas of September 30, 2024$80,014,700,000Rate of Return FYTD AS OF September 30, 2024: 3.61%8.74% over 5 years Chart.js Donut Charts $80.0B Unaudited Fund Valuesas of Sept. 30, 2024 Learn more about the Fund's StructureFINANCIAL STATEMENTSINVESTMENT STRATEGYPERFORMANCEFund NewsAPFC Releases 2024 Annual ReportSeptember 25, 2024Upcoming Board of Trustees Annual Meeting – September 25-26, 2024September 16, 2024The Board of Trustees Holds Budget Work Session and Audit Committee MeetingsSeptember 5, 2024Upcoming APFC Board of Trustees Meetings – September 5August 28, 2024>>News archiveFund NewsAnnual Meeting of the Board of TrusteesSeptember 26, 2024ANCHORAGE, 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 Fund NewsFund NewsAnnual Meeting of the Board of Trustees September 26, 2024ANCHORAGE, 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 APFC Releases 2024 Annual ReportSeptember 25, 2024Upcoming Board of Trustees Annual Meeting – September 25-26, 2024September 16, 2024The Board of Trustees Holds Budget Work Session and Audit Committee MeetingsSeptember 5, 2024Upcoming APFC Board of Trustees Meetings – September 5August 28, 2024>>News archiveEDUCATION History Fund Structure Revenue Generation Who Manages the Fund? An Alaskan's guide to the fund Annual Report Ten years after Alaska achieved statehood, oil was discovered on the North Slope, which led to Alaskans voting to create a Permanent Fund to invest oil proceeds for future generations. The first deposit was $734,000. After 40 years of wise management, APFC has grown the Permanent Fund to more than $80.0 billion. Want to know how we did it? Find out more... The Permanent Fund has two parts: the Principal and the Earnings Reserve Account (“ERA”). Both are invested together using the same asset allocation, but they are very different in how they can be used by law: the Principal is permanent savings, the ERA is available to spend. Find out more... APFC is a team of financial and legal professionals. It operates as a separate state entity under the oversight of an independent, professional Board of Trustees, who serve as fiduciaries of the Fund. The Board sets investment policy, reviews the portfolio’s performance, and works with management to determine APFC’s strategic direction. Find out more... It’s the APFC’s job to prudently manage the assets of the Alaska Permanent Fund. Our staff of professionals works with a team of international managers to invest the Permanent Fund’s billions across eight asset classes in both private and public markets. Under APFC’s stewardship, the Permanent Fund is recognized as one of the best-managed sovereign wealth funds in the world – well poised to serve Alaskans now and for many decades to come. Find out more... The Permanent Fund has largely replaced oil as a source of unrestricted revenues for our state government, which means it is more important to Alaskans than ever. We are pleased to present this booklet, which offers the basics of the Alaska Permanent Fund, its history, how APFC manages and invests these assets, and its essential role in Alaska's future. Read the Guide... Find out what made FY24 an interesting year in the APFC Annual Report: Illuminating the Future. Learn more about APFC’s operations, strategies, and investments in the latest Annual Report. Read the Report... BONDSSTOCKSREAL ESTATEALTERNATIVE INVESTMENTS BONDS The Fixed Income Plus portfolio acts as an anchor to the Fund and is comprised of Bonds, Emerging Market Debt, TIPS, and Listed Infrastructure. During volatile market cycles, these assets provide stability and a source of liquidity to take advantage of market dislocations. Trading is…read more STOCK HOLDINGSThe Public Equities allocation is comprised of U.S., International, and Global Stocks. The portfolio is actively structured to perform well in a variety of market environments, including positively trending equity markets and weaker market environments. The components of this.... read moreREAL ESTATEReal Estate is an important component of the APFC’s portfolio. The Alaska Permanent Fund Corporation has partial or complete ownership of 61 residential, retail, industrial, and office buildings in the United States and abroad. Every time APFC collects rent on these properties or sells one.... read more ALTERNATIVE INVESTMENTS APFC invests in private (not exchange traded) holdings through the Private Equity; Private Income: Infrastructure, Private Credit, and Income Opportunities; and the Absolute Return asset class. © Copyright TEXT APFCOur MandateCareersBoard of Trustees Meetings & Past VideosAccessibilityPrivacyMediaContact UsOur MandateCareersBoard of Trustees Meetings & Past VideosAccessibilityPrivacyMediaContact Us SearchSubmitClearWho We AreAlaska’s Permanent Fund Investment ManagerOur LeadershipA Pioneering Investment ModelPartnership ApproachGood Governance Is Good BusinessFund StructureFund ManagementHistoryWhat We DoInvestment Management for AlaskaThe Permanent FundOther Funds Under ManagementInvestment Team LeadershipDiversification Framework – Asset AllocationRisk ManagementFund Investment – Asset ClassesPublic EquitiesFixed IncomeReal EstateAbsolute ReturnPrivate EquityIn-State InvestmentsPrivate IncomeTactical OpportunitiesCashBoard of TrusteesBoard of TrusteesKnow Your TrusteesOfficers and CommitteesBoard of Trustees Meetings & Past VideosInvestment Advisory GroupGeneral Performance Consultant2024 Strategic PlanResolutions of the Board of TrusteesPerformanceOur PerformanceFinancial and Performance ReportsFund NewsFund NewsAPFC PerspectivesResources2024 Annual ReportReport ArchiveAlaska’s Renewable Revenue CurriculumFrequently Asked QuestionsCareersenusen-US1731597901https://apfc.org

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