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APFC Board reviews Permanent Fund’s FY13 performance


September 27 – The Alaska Permanent Fund Corporation Board of Trustees elected Bill Moran as Chair and Carl Brady as Vice-Chair at its annual meeting in Fairbanks on September 25 and 26. The Board also reviewed the Fund’s performance and accepted the Corporation’s audited financial statements for fiscal year 2013.

Callan Associates, the Board’s general consultant, reported that the Fund earned 10.9 percent for the fiscal year, trailing the benchmark return of 11.3 percent. The conservative stance of the Fund compared to its benchmark was the significant contributor to this underperformance. APFC staff provided reports to the Board on the recent performance and current status of the asset classes within the Fund.

The Board also:

  • Reviewed a presentation by PIMCO on the real return mandate that the firm manages for the Fund.
  • Discussed the effect of home bias on investment allocation decisions, including information presented by Callan Associates.
  • Approved the Fiscal Year 2015 budget request for the Corporation.

The Board’s next regular meeting will be held on November 20 and 21 in Anchorage.

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