Alaska Permanent Fund Corp., Juneau, returned a preliminary 4.9%, gross of fees, for the fiscal year ended June 30, surpassing its -1.4% benchmark, said spokeswoman Laura Achee.
The top-performing asset class for the year was private equity, which returned 16.46%, followed by real estate at 9.8%; mezzanine debt, 9.64%; domestic equities, 7.18%; infrastructure, 4.73%; outsourced CIO allocations, 3.43%; absolute return, 1.71%; global equities, 1.23%; domestic fixed income, 1.15%; non-domestic fixed income, -2.37%; international equities, -5.2%; private markets OCIO allocations, -5.62%; and multiasset emerging markets, -7.4%.
The outsourced CIO program focuses on liquid assets such as REITs, public equities and fixed income.
The private markets OCIO program is led by Apollo Global Management and The Carlyle Group. Apollo focuses on private credit investments, while Carlyle handles investments in natural resources, agriculture, metals, mining, among other areas.
The sovereign wealth fund has a target asset allocation of 36% stocks, 20% bonds and cash, 12% real estate, 6% each private equity and absolute return, 4% infrastructure and the rest in “other,” according to the fund's website.