Driven by a rally of US stocks that saw 5 percent quarterly and 4 percent annual returns, the Alaska Permanent Fund (APF) reported a 3.2 percent return for the second quarter of fiscal year 2015, bringing the company's year-to-date return up to 1.9 percent.
Bonds held by APF were another source of growth for the company, with the company's portfolio of US bonds up 1.1 percent for the quarter and 0.9 percent for the year, and non-US bonds up 2.8 percent for the second quarter and 4.6 percent year to date.
Impeding growth were non-US stocks, with reported non-US and global portfolio returns of -8.9 percent and -2.1 percent, respectively. This resulted in a 3.7 percent loss to the non-US portfolio and a flattening out of the global portfolio, which held steady at a return rate of 0.7 percent, according to an APF news release.
The fund's real estate portfolio reported growth of 4.6 percent for the quarter, bringing fiscal growth up 4.8 percent in the sector. Private equity investments accounted for much of this growth, returning 2.2 percent for the quarter and 7.7 percent year to date.
Infrastructure investments saw quarterly return of 0.3 percent and 3.6 percent year to date.
The APF was created in 1976 as a tool to ensure that at 25 percent of oil production money brought into the state is set aside for long-term investment. Four years later, the Alaska Permanent Fund Corporation was created to manage the fund.
According to the news release, the fund was valued at $52.8 billion as of December 21, 2014.