Alaska Permanent Fund Corp., Juneau, posted a net return of 7.9% for the fiscal year ended June 30.
The $80.5 billion sovereign wealth fund’s return fell short of its performance benchmark of 9.5% for the period, according to an annual report on its website.
For the three, five and 10 years ended June 30, APFC returned an annualized net 3.9%, 8.2% and 7.7%, respectively, compared with the respective benchmarks of 3.9%, 7.9% and 6.9%.
The sovereign wealth fund returned a net 5.2% for the fiscal year ended June 30, 2023.
For the most recent fiscal year, tactical opportunities was the top-performing asset class with a net return of 31% (above its benchmark return of 24.6%), followed by public equities with a net return of 16.1% (below its 18.4% benchmark); absolute return, 9.7% (8.5%); private income, 6.6% (9.2%); cash, 5.2% (5.4%); fixed income, 4.9% (4.2%); private equity, 2.5% (5%); and real estate, -3.3% (-4.5%).
As of June 30, the actual allocation was 33% public equities, 18% each fixed income and private equity, 12% real estate, 9% private income, 7% absolute return, 2% cash and 1% tactical opportunities.
The target allocation is 34% public equities, 20% fixed income, 16% private equity, 10% real estate, 9% private income, 7% absolute return and 2% each cash and tactical opportunities.