Home - Alaska Permanent Fund Corporation
Source: http://www.apfc.org
Archived: 2026-04-23 15:17
Home - Alaska Permanent Fund Corporation
INVESTING FOR ALASKA
INVESTING FOR THE LONG RUN
WHO WE ARE
APFC 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 Business
Our vision is to deliver OUTstanding returns
for the benefit of all current and future generations of alaskans
A Pioneering Investment Model
Total Fund Value
as of March 31, 2026
$86,384,100,000
Rate of Return
FYTD AS OF February 28, 2026:
9.22%
7.63% over 5 years
Chart.js Donut Charts
$86.3B
Unaudited
Fund Values
as of March 31, 2026
Learn more about the Fund's Structure
FINANCIAL STATEMENTS
INVESTMENT STRATEGY
PERFORMANCE
Fund
News
APFC Releases the 2026 Mid Fiscal Year Review
February 19, 2026
APFC Reviews Governance Recommendations
February 13, 2026
February 23-24, 2026 APFC Board of Trustees Quarterly Meeting
February 12, 2026
APFC Board of Trustees Governance Committee Meeting – February 13, 2026
February 4, 2026
>>News archive
Fund
News
APFC Board Marks 50 Years of the Fund and Reviews Asset Allocation
February 24, 2026
JUNEAU, Alaska – February 25, 2026 – The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees convened its quarterly meeting on February 23 and 24, 2026, in Juneau and online. Trustees received updates on the Fund’s operations and investment activity, including presentations on asset allocation and Fixed Income.
Legislative Partnership Honoring 50 Years of the Alaska Permanent Fund
The 34th Alaska State Legislature’s presiding officers, Senate President Gary Stevens and Speaker of the House Bryce Edgmon, presented the Legislative Citation in honor of the Alaska Permanent Fund’s 50th anniversary. This milestone honors the extraordinary vision and foresight of the Alaskans who created and safeguarded the Fund, voters who enshrined it in the Constitution, the legislators and governors who strengthened it, and the Trustees and investment professionals who steward it with integrity. Today, the State depends on the Fund for the majority of unrestricted general fund revenue, supporting statewide public services and the dividend through the annual percent of market value (POMV) draw. Without the bold leadership of past generations, Alaska’s fiscal landscape would look profoundly different.
“We are deeply grateful that Senate President Gary Stevens and Speaker Bryce Edgmon were able to join us and participate in our meeting today,” said Board Chair Jason Brune. “The continued stewardship of the Fund depends on a shared commitment among the Governor, Legislators, Trustees, and staff to prudent oversight and long-term responsibility.”
Read More
Fund
News
Fund
News
APFC Board Marks 50 Years of the Fund and Reviews Asset Allocation
February 24, 2026
JUNEAU, Alaska – February 25, 2026 – The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees convened its quarterly meeting on February 23 and 24, 2026, in Juneau and online. Trustees received updates on the Fund’s operations and investment activity, including presentations on asset allocation and Fixed Income.
Legislative Partnership Honoring 50 Years of the Alaska Permanent Fund
The 34th Alaska State Legislature’s presiding officers, Senate President Gary Stevens and Speaker of the House Bryce Edgmon, presented the Legislative Citation in honor of the Alaska Permanent Fund’s 50th anniversary. This milestone honors the extraordinary vision and foresight of the Alaskans who created and safeguarded the Fund, voters who enshrined it in the Constitution, the legislators and governors who strengthened it, and the Trustees and investment professionals who steward it with integrity. Today, the State depends on the Fund for the majority of unrestricted general fund revenue, supporting statewide public services and the dividend through the annual percent of market value (POMV) draw. Without the bold leadership of past generations, Alaska’s fiscal landscape would look profoundly different.
“We are deeply grateful that Senate President Gary Stevens and Speaker Bryce Edgmon were able to join us and participate in our meeting today,” said Board Chair Jason Brune. “The continued stewardship of the Fund depends on a shared commitment among the Governor, Legislators, Trustees, and staff to prudent oversight and long-term responsibility.”
Read More
APFC Releases the 2026 Mid Fiscal Year Review
February 19, 2026
APFC Reviews Governance Recommendations
February 13, 2026
February 23-24, 2026 APFC Board of Trustees Quarterly Meeting
February 12, 2026
APFC Board of Trustees Governance Committee Meeting – February 13, 2026
February 4, 2026
>>News archive
EDUCATION
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 $86.3 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...
Read
APFC's 2025 Annual Report, "49 Forward,
" for key financial performance metrics, strategic asset allocation, and the results of its annual third-party financial audit. For 49 years, the Fund has transformed resource wealth into a legacy of stability, opportunity, and shared prosperity for every generation.
BONDS
STOCKS
REAL ESTATE
ALTERNATIVE INVESTMENTS
BONDS
The Fixed Income 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 HOLDINGS
The 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 more
REAL ESTATE
Real 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.
Who We Are
Alaska’s Permanent Fund Investment Manager
Our Leadership
A Pioneering Investment Model
Partnership Approach
Good Governance Is Good Business
Fund Structure
Fund Management
History
What We Do
Investment Management for Alaska
The Permanent Fund
Other Funds Under Management
Investment Team Leadership
Diversification Framework – Asset Allocation
Risk Management
Fund Investment – Asset Classes
Public Equities
Fixed Income
Real Estate
Absolute Return
Private Equity
In-State Investments
Private Income
Tactical Opportunities
Cash
Board of Trustees
Board of Trustees
Know Your Trustees
Officers and Committees
Board of Trustees Meetings & Past Videos
Investment Advisory Group
General Performance Consultant
2024 Strategic Plan
Resolutions of the Board of Trustees
Performance
Our Performance
Financial and Performance Reports
Fund News
Fund News
APFC Perspectives
Resources
2025 Annual Report
2026 Mid Fiscal Year Review
Report Archive
Alaska’s Renewable Revenue Curriculum
Frequently Asked Questions
Careers
Internships
INVESTING FOR ALASKA
INVESTING FOR THE LONG RUN
WHO WE ARE
APFC 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 Business
Our vision is to deliver OUTstanding returns
for the benefit of all current and future generations of alaskans
A Pioneering Investment Model
Total Fund Value
as of March 31, 2026
$86,384,100,000
Rate of Return
FYTD AS OF February 28, 2026:
9.22%
7.63% over 5 years
Chart.js Donut Charts
$86.3B
Unaudited
Fund Values
as of March 31, 2026
Learn more about the Fund's Structure
FINANCIAL STATEMENTS
INVESTMENT STRATEGY
PERFORMANCE
Fund
News
APFC Releases the 2026 Mid Fiscal Year Review
February 19, 2026
APFC Reviews Governance Recommendations
February 13, 2026
February 23-24, 2026 APFC Board of Trustees Quarterly Meeting
February 12, 2026
APFC Board of Trustees Governance Committee Meeting – February 13, 2026
February 4, 2026
>>News archive
Fund
News
APFC Board Marks 50 Years of the Fund and Reviews Asset Allocation
February 24, 2026
JUNEAU, Alaska – February 25, 2026 – The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees convened its quarterly meeting on February 23 and 24, 2026, in Juneau and online. Trustees received updates on the Fund’s operations and investment activity, including presentations on asset allocation and Fixed Income.
Legislative Partnership Honoring 50 Years of the Alaska Permanent Fund
The 34th Alaska State Legislature’s presiding officers, Senate President Gary Stevens and Speaker of the House Bryce Edgmon, presented the Legislative Citation in honor of the Alaska Permanent Fund’s 50th anniversary. This milestone honors the extraordinary vision and foresight of the Alaskans who created and safeguarded the Fund, voters who enshrined it in the Constitution, the legislators and governors who strengthened it, and the Trustees and investment professionals who steward it with integrity. Today, the State depends on the Fund for the majority of unrestricted general fund revenue, supporting statewide public services and the dividend through the annual percent of market value (POMV) draw. Without the bold leadership of past generations, Alaska’s fiscal landscape would look profoundly different.
“We are deeply grateful that Senate President Gary Stevens and Speaker Bryce Edgmon were able to join us and participate in our meeting today,” said Board Chair Jason Brune. “The continued stewardship of the Fund depends on a shared commitment among the Governor, Legislators, Trustees, and staff to prudent oversight and long-term responsibility.”
Read More
Fund
News
Fund
News
APFC Board Marks 50 Years of the Fund and Reviews Asset Allocation
February 24, 2026
JUNEAU, Alaska – February 25, 2026 – The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees convened its quarterly meeting on February 23 and 24, 2026, in Juneau and online. Trustees received updates on the Fund’s operations and investment activity, including presentations on asset allocation and Fixed Income.
Legislative Partnership Honoring 50 Years of the Alaska Permanent Fund
The 34th Alaska State Legislature’s presiding officers, Senate President Gary Stevens and Speaker of the House Bryce Edgmon, presented the Legislative Citation in honor of the Alaska Permanent Fund’s 50th anniversary. This milestone honors the extraordinary vision and foresight of the Alaskans who created and safeguarded the Fund, voters who enshrined it in the Constitution, the legislators and governors who strengthened it, and the Trustees and investment professionals who steward it with integrity. Today, the State depends on the Fund for the majority of unrestricted general fund revenue, supporting statewide public services and the dividend through the annual percent of market value (POMV) draw. Without the bold leadership of past generations, Alaska’s fiscal landscape would look profoundly different.
“We are deeply grateful that Senate President Gary Stevens and Speaker Bryce Edgmon were able to join us and participate in our meeting today,” said Board Chair Jason Brune. “The continued stewardship of the Fund depends on a shared commitment among the Governor, Legislators, Trustees, and staff to prudent oversight and long-term responsibility.”
Read More
APFC Releases the 2026 Mid Fiscal Year Review
February 19, 2026
APFC Reviews Governance Recommendations
February 13, 2026
February 23-24, 2026 APFC Board of Trustees Quarterly Meeting
February 12, 2026
APFC Board of Trustees Governance Committee Meeting – February 13, 2026
February 4, 2026
>>News archive
EDUCATION
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 $86.3 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...
Read
APFC's 2025 Annual Report, "49 Forward,
" for key financial performance metrics, strategic asset allocation, and the results of its annual third-party financial audit. For 49 years, the Fund has transformed resource wealth into a legacy of stability, opportunity, and shared prosperity for every generation.
BONDS
STOCKS
REAL ESTATE
ALTERNATIVE INVESTMENTS
BONDS
The Fixed Income 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 HOLDINGS
The 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 more
REAL ESTATE
Real 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.
Who We Are
Alaska’s Permanent Fund Investment Manager
Our Leadership
A Pioneering Investment Model
Partnership Approach
Good Governance Is Good Business
Fund Structure
Fund Management
History
What We Do
Investment Management for Alaska
The Permanent Fund
Other Funds Under Management
Investment Team Leadership
Diversification Framework – Asset Allocation
Risk Management
Fund Investment – Asset Classes
Public Equities
Fixed Income
Real Estate
Absolute Return
Private Equity
In-State Investments
Private Income
Tactical Opportunities
Cash
Board of Trustees
Board of Trustees
Know Your Trustees
Officers and Committees
Board of Trustees Meetings & Past Videos
Investment Advisory Group
General Performance Consultant
2024 Strategic Plan
Resolutions of the Board of Trustees
Performance
Our Performance
Financial and Performance Reports
Fund News
Fund News
APFC Perspectives
Resources
2025 Annual Report
2026 Mid Fiscal Year Review
Report Archive
Alaska’s Renewable Revenue Curriculum
Frequently Asked Questions
Careers
Internships