Register  
Alaska fund drops alternatives mandates
Monday, 23 February 2009 12:35pm

The $43 billion Alaska Permanent Fund Corporation has axed two alternative investment mandates in light of the fund's shrinking assets.

According to a press statement by the American fund, the board decided "not to move forward with two planned alternative investments in light of changes to the fund's value, and the need to balance toward core asset classes".

The two funds that were set aside were a small/mid-cap private equity fund managed by Pathway and the Alinda II infrastructure fund. Both of these investments had been approved at the July 24, 2008 meeting.

Meanwhile the fund is also divesting its investments in directly-held companies doing business in Sudan this year - a move that shows their protest of the African country's genocide practices.

The Alaska Permanent Fund Corporation Board of Trustees endorsed legislation introduced by Governor Sarah Palin this year that would require divestment of directly-held companies doing business in Sudan.

"We appreciate that the situation in Sudan is unique because it has been labeled as genocide by the federal government, and in particular because Congress passed safe harbor legislation last year allowing fiduciaries to make this particular divestment," said board chair Steve Frank.

"We respect that Alaska's elected officials have the authority to make the final call on a divestment policy, and our preference is for legislation that has the least impact on the investments of the fund, in accordance with our role as fiduciaries."

Blogs
Follow the industry experts.
Christopher Page
Christopher Page
Managing Director

Breaking out from the FoFA catch-22
Ever since the first draft of the Future of Financial Advice (FoFA) legislation came out, the advice sector has been trapped in a very ...read more
 
Benjamin Ong
Benjamin Ong
Chief Economist

Reflation, rotation and the taper
'Tis being my final type (drivel, to some gentle readers) for the year, we'll take a look back at the 2013 that was to seek the lessons ... read more
 
Alex Dunnin
Alex Dunnin
Director of Research & Editorial Services

MySuper: our verdict is in
Has MySuper worked? Has it lowered fees, simplified superannuation products, lifted returns and made people better off? Yes, yes ... read more
News Search   
VideoBrought to you by
The New Neutral
At this year's PIMCO Secular Forum, the company's global executives set themselves the challenge of taking a three to five year view and anticipate where the market would be against what investors would ... Watch video
Why Multi-Asset Solutions?
Joe Fernandes, Head of Global Investment Solutions at Colonial First State Global Asset Management talks about the advantages of objective-based investing in the multi-asset space. Watch video
Colonial First State Multi-Asset Real Return Fund
Find out more about the investment philosophy and objective of the Colonial First State Multi-Asset Real Return Fund. Senior Portfolio Manager, Kej Somaia explains. Watch video
Managed Accounts Forum 2014 Highlights
Around 150 delegates attended Financial Standard's inaugural Best Practice Forum in Managed Accounts held in Sydney in August. Financial Standard also launched a new magazine: FS Managed ... Watch video
Introduction to Series #07
What are the key challenges advisers face when building retirement portfolios for clients? Watch Joe Fernandes, Head of Global Investment Solutions at Colonial First State Global Asset Management. Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
SEP
21
OCT
07
Major Market Players Symposium
14
Unlock the value of diversification with mFund
15
Investment Performance Measurement, Attribution & Risk Management
16
Unlock the value of diversification with mFund
20
Family Office Forum
News
Bites
Advertisement

$245 (inc GST) for 1 year
 
 
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something sTiWi0is