Alaska Permanent Fund Corporation
Alaska Permanent Fund Corporation is a state-owned corporation considered the largest sovereign wealth fund in the United States. Its investment strategy relies on both efficient asset allocation design and effective investment within each asset class. Major asset classes include public equities, fixed-income, private equity, real estate, infrastructure, absolute return, risk parity strategies, and cash that are managed to outperform specific long-term growth and income targets.
Success is measured over three time horizons:
- Long-Term (5+ years): Generate total returns in excess of inflation (CPI) + 5%
- Medium-Term (3-years): Aim to achieve top-quartile investment returns in relation to institutional investor peers (U.S. Public Plans, U.S. Endowments, International Sovereign Wealth Funds)
- Short-Term (1 year): Earn regularized income sufficient to support the operating and related needs of the Alaska state government while outperforming a passive (unmanaged) global index portfolio of stocks and bonds.