Alaska Permanent Fund Corp., Juneau, returned 1.9% for the nine months ended March 31, boosted by a return of 6.9% in the last three months, according to a news release for the sovereign wealth fund.
The fund ended March with $41.5 billion, the highest month-end closing value in its history.
The U.S. equity portfolio had the best returns for the quarter and the first nine months of its fiscal year, both ended March 31, at 13.3% and 6.4%, respectively. International equities and global equities returned 11.9% and 11.5%, respectively, for the quarter, but are -7.2% and 0.6%, respectively, for the fiscal year.
The fund's fiscal year ends June 30.
U.S. bonds returned 5.6% for the fiscal year-to-date while non-U.S. bonds had a 5.2% return. For the fiscal year to date through March 31, real estate returned 6.4%, real return 5.6%, private equity 4.7%, infrastructure 0.2% and absolute return -0.3%.
“I don't think we can say everything is rosy, but markets seem to be returning to normal and these stock returns show that investors are relaxed enough to take on more risk,” said Michael Burns, CEO, in the release.
Spokeswoman Laura Achee could not be reached for comment.