Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
  • Print
Breadcrumb
  1. Home
  2. Sovereign Wealth Funds
May 29, 2018 01:00 AM

Alaska Permanent approves new compensation plan, reflecting move to more internal management

Rob Kozlowski
  • Tweet
  • Share
  • Share
  • Email
  • More
    Getty Images/iStockphoto

    Alaska Permanent Fund Corp., Juneau, developed new incentive compensation guidelines for investment and other staff, said Paulyn Swanson, spokeswoman, in an email.

    The $65.1 billion sovereign wealth fund's board at its meeting on May 24 approved the new guidelines, part of a five-year investment management plan unveiled in September 2016 to significantly increase the assets it manages internally. At the time, internally managed assets accounted for 24% of overall assets, and the goal was to increase it to 40% to 50% over the next five to 10 years. As of June 30, 2017, internally managed assets accounted for 38% of assets.

    Ms. Swanson said the next step is to seek budget authorization from Gov. Bill Walker and the Alaskan Legislature when they convene next session.

    According to the new guidelines, investment staff, including Chief Investment Officer Russell Read, would be "compensated through a base salary plus annual incentive compensation targeted at median total cash compensation in comparison to the APFC peer equivalent," according to board meeting materials. The peer equivalent will be a weighting that reflects "75% of U.S. and Canadian public fund asset managers with internal/direct asset management capability and 25% of the private-sector investment organizations with assets under management of less than $100 billion, including endowments, foundations, advisory firms, banks, insurance companies and corporate plan sponsors," according to the materials.

    Annual incentive compensation, meanwhile, would be measured net of fees on a three-year basis vs. the relative performance benchmark. No incentive compensation would exceed 50% of the individual's base salary. APFC's board would include incentive compensation requests with their annual budget requests beginning in fiscal year 2020.

    The fund in September 2016 announced it would also aggressively pursue more investment staff, promoting from within as well as seeking external candidates. In the fiscal year 2019 operating budget, there are four new investment positions and six new middle- and back-office support positions, Ms. Swanson said.

    "Moving more investments in house requires an increased investment in both the investment staff and those that offer investment support, such as IT, accounting, trade operations and administration," Ms. Swanson said. "As presented in the budget documents, the investment positions are two investment officers and two investment associates."

    Related Articles
    Alaska Permanent posts 8.45% return for six months
    Alaska Permanent allocates $1.87 billion in fourth quarter
    Alaska Permanent working with another wealth fund to develop emerging markets e…
    Alaska Permanent doles out $1.288 billion in commitments, investments
    Alaska Permanent puts $500 million in credit fund
    Iowa Public Employees picks firm to consult on internal management
    Read leaving Alaska Permanent Fund
    Alaska Permanent Fund gains 10.74% in fiscal year
    Recommended for You
    ONLINE_190209849_EP_1_YSZJHBSOHCDO.jpg
    Norges Bank recommends adding private equity
    Alaska_State_Capitol_i.jpg
    Alaska Permanent approves direct private equity investments
    china_stock_market-main_i.jpg
    China sovereign wealth fund buys ETFs in new bid to boost stocks
    Pension Risk Transfer: Derisking Trends and Considerations
    Sponsored Content: Pension Risk Transfer: Derisking Trends and Considerations
    Sponsored
    White Papers
    A Guide to Home Equity Investments: The Untapped Real Estate Asset Class
    Modernize your K-12 retirement plan with vendor consolidation
    Q4 2023 Credit Outlook: Price Is What You Pay, Value Is What You Get
    There's More Than One Way to Be a Climate Investor
    Exploring the Commercial Application of Artificial Intelligence
    Private Credit Insights: Every Problem Is an Opportunity in Disguise
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    October 23, 2023 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
    • Print