Alaska Permanent Fund Corporation

The Alaska Permanent Fund's financial statements show that its total unaudited value was $80.8 billion as of November 30, 2024. The Principal totaled $72.4 billion (the nonspendable portion), consisting of: • $58.6 billion in permanent deposits • $13.8 billion in unrealized gains The Earnings Reserve Account or "ERA" (includes the spendable and committed portions) totaled $8.4 billion, consisting of four parts. • $3.8 billion for the FY26 POMV draw to the General Fund • $1.0 billion FY25 Inflation Proofing of the Principal • $2.0 billion of uncommitted realized earnings • $1.6 billion in unrealized gains The November 30, 2024 Financial Statement Report is available at https://lnkd.in/eqPeykF.

The Absolute Return portfolio, made up of hedge funds, provides essential diversification for the Fund and offers more liquidity than other alternative investments. Representing approximately 7% of the Fund with $5.6 billion in assets (as of June 2024), our expert team has built an “all-weather” portfolio designed for steady, uncorrelated returns in any market environment. Learn more about this innovative approach and its value to Alaska’s Permanent Fund. On Dec. 10, the Absolute Return portfolio was highlighted during the Board of Trustees meeting. Learn more about fixed income in the Fund’s asset allocation here: https://lnkd.in/gEX6rZFe

Are you curious about the strategy behind the APFC's asset allocation? Our investments span eight asset classes, balancing risk and maximizing returns. Watch the video to see how a global, long-term approach helps secure Alaska's wealth.

Congratulations to our CIO, @Marcus Frampton, who was named a 2024 Industry Innovation Award Winner by CIO Magazine this week in the Sovereign Wealth Funds category. We applaud the full list of winners, who can be found here: https://lnkd.in/eRiF95T2

We're spotlighting our expert team, starting with Senior Portfolio Manager Youlian Ninkov. On Dec. 10, Ninkov presented his investment strategy and reported on the performance of the Absolute Return portfolio at the Board of Trustees meeting. Ninkov has worked at APFC for 12 years and oversees its Absolute Return portfolio under the direction of our CIO, Marcus Frampton. The portfolio is built to provide consistent returns and reduce overall risk, helping the Fund achieve more balanced outcomes. It includes a range of hedge fund strategies that offer more liquidity than many other alternative investments. To watch a recording of the Absolute Return presentation, go to https://lnkd.in/gss9FCB5

Did you miss the first day of the Board Meeting? There’s still time to share public input with the APFC Board of Trustees as we close our meeting on December 11th at 11:30 am. See the agenda for more information at https://lnkd.in/gB5ZNU-D. “Open dialogue fosters trust and ensures that we remain accountable to the people we serve." - Chair Jason Brune Comments are always welcome, please send your public comments to boardpubliccomment@apfc.org. Public accountability drives Alaska forward.

For the fourth consecutive year, APFC has been named one of Pensions and Investments' 'Best Places to Work in Money Management,' an award driven directly by employee feedback. This recognition underscores our commitment to empowering each team member to excel individually while fostering a collaborative culture that supports APFC's mission-driven work.

As Alaska’s Permanent Fund continues to grow, APFC upholds its commitment to securing Alaska’s financial future through disciplined, long-term investment. Our vision is simple: to deliver risk-adjusted maximum returns, thereby strengthening Alaska’s renewable financial foundation for generations to come. Learn more about the nation’s largest sovereign wealth fund at apfc.org.

APFC’s Board of Trustees will meet on December 10-11, 2024, in Juneau. There will also be an option to join online via Teams Webinar. The agenda includes: • Updates on private and public markets • An overview of the Absolute Return portfolio • An update on the Personnel Management Plan You can find meeting materials, including the agenda and 2025-2026 Board schedule, at apfc.org. To share public comments, email boardpubliccomment@apfc.org. Public accountability drives Alaska forward.

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