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Alaska Permanent returns 8.1% for 2016, outperforming its benchmark

Alaska Permanent Fund Corp., Juneau, returned 8.1% for the year ended Dec. 31, ahead of its performance benchmark of 7.52%, the $55.4 billion sovereign wealth fund announced Tuesday.

For the three and six months ended Dec. 31, the fund returned 0.32% and 4.5%, respectively, ahead of its performance benchmarks of 0.2% and 3.32% in each of those periods.

In calendar year 2016, the fund’s income opportunities portfolio returned 20.6%; private equity, 17.1%; real estate investment trusts, 16%; global high-yield, 15.1%; domestic equity, 13.2%; infrastructure, 12.8%; emerging markets debt, 10.7%; real estate, 10.7%, global equities, 8%; multiasset class, 7.6%; public/private credit, 7.4%; U.S. investment-grade corporate bonds, 7.4%; international equities, 6.9%; non-U.S. fixed income. 4.4%; Treasury inflation-protected securities, 4.2%; aggregate U.S. fixed income, 3.4%; and absolute return, -0.1%.

The permanent fund has a target asset allocation of 40% public equities, 22% fixed income-plus, 11% each private equity/growth opportunities and real estate, 6% asset allocation strategies, 5% each absolute return and private infrastructure/private credit/income opportunities.

For the three and five years ended Dec. 31, APFC returned an annualized 5.53% and 8.36%, respectively, ahead of its performance benchmarks of 4.38% and 7.7%, respectively, in those periods.