Alaska Permanent Fund Corp., Juneau, returned 8.96% in the nine months ended March 31, the $57.8 billion sovereign wealth fund announced in a news release Wednesday.
The nine-month return, the fund’s fiscal year-to-date, exceeded its 7.17% benchmark by 179 basis points. The fund’s 12-month and three-month returns were 11.11% and 4.06% respectively. The 12-month benchmark return was 9.35%, while the three-month benchmark was 3.72%.
For the nine months ended March 31, the sovereign wealth fund’s domestic equity portfolio returned 16.8%; international equity, 15.5%; global equity, 14.5%; private equity, 12.9%; global high yield, 8.9%; absolute return, 6%; public/private credit, 5.2%; real estate, 5%; income opportunities, 4.8%; emerging markets debt, 4.6%; infrastructure, 4.2%; domestic investment-grade fixed income, 0.6%; Treasury inflation-protected securities, -0.3%; real estate investment trusts, -0.5%; domestic aggregate fixed income, -0.8%; and international fixed income, -2.1%.
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 6.31% and 7.78%, respectively, ahead of its performance benchmarks of 4.87% and 6.9%, respectively, in those periods.