Alaska Permanent Fund Corp., Juneau, returned 3.86% for the quarter ended Sept. 30, ahead of its 3.51% performance benchmark, said a news release from the $54.8 billion sovereign wealth fund.
Strong equity returns, particularly in emerging markets, helped drive the overall return, the news release said.
International stocks returned 7.86% for the quarter, followed by U.S. stocks at 5.76%; global stocks, 5.61%; special opportunity, 4.72%; private equity, 2.89%; real estate, 2.56%; absolute return, 2.27%; non-U.S. bonds, 1.83%; public and private credit, 1.29%; U.S. bonds, 1.2%; infrastructure and other real assets, 0.31%; and private markets OCIOs/real-return allocations, -0.6%.
As of Sept. 30, the permanent fund had an asset allocation of 19% U.S. bonds, 17% non-U.S. stocks, 12% each global and U.S. stocks, 11% real estate, 9% absolute return, 7% private equity, 4% each infrastructure/other real assets and special opportunity, 2% each non-U.S. bonds and public/private credit and 1% private markets OCIOs/real-return allocations.
For the one, three and five years ended Sept. 30, APFC returned 9.75%, 6.83% and 9.1%, respectively, vs. performance benchmarks of 11.19%, 4.64% and 7.93%, respectively.