Alaska Permanent Fund Corporation Ends Fiscal Year 2020 in Positive Territory

Posted on 08/04/2020

The Alaska Permanent Fund Corporation’s (APFC) unaudited financial statements and performance for the end of fiscal year 2020 show that the sovereign wealth fund grew to a fund market value of US$ 64.7 billion. The tremendous market volatility that COVID-19 created impacted the returns of many global institutional investors. APFC generated a 2.01% for the fiscal year, beating its passive benchmark (Passive Index Benchmark (60% Stocks|20% Bonds|20% Real Estate & TIPS)

In a press release, in assessing the state of the portfolio as of June 30, Marcus Frampton, APFC’s CIO, comments: “I am pleased that the Fund’s values largely have recovered from the depths of the market sell-off in March. APFC Staff took important steps to deploy significant capital into the equity markets at the depths of the crisis – over $2 billion in total. This orientation of being a long-term focused investor in the midst of the sea of short-term traders has once again accrued to the benefit of the Fund’s stakeholders now that markets have subsequently regained their footing.”

Angela Rodell, APFC’s CEO, remarks: “We are pleased to see our returns end in positive territory. I think it highlights just how important it is to maintain discipline in volatile times. We held on to our core convictions and never lost sight of our long-term mandate. In 2018, Senate Bill 26 was made law, enacting the POMV structure. The certainty provided by knowing how much we need for short term liabilities, while still executing our long-term investment strategy, has never been more valuable.”

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