BY DJ SUMMERS

Morris News Service – Alaska 

The Alaska Permanent Fund Corporation released financial results for the month ending March 31 at its quarterly meeting in Anchorage on May 19.

The corporation’s fiscal year ends June 30.

The Alaska Permanent Fund Corporation, or APFC, is the state-owned corporation that manages the Alaska Permanent Fund as a single investment pool.

Fiscal year 2015 numbers have declined substantially from fiscal year 2014.

Total revenues for March were $266.4 million, down 10 percent from $296 million in March 2014. For the nine months from July 1, 2014, through March 31, 2015, total revenues came to $2.3 billion, a 55 percent drop from $5.1 billion in the nine-month period ending March 31, 2014. 

Overall, APFC is $4.6 billion shy of the 2014 fiscal year total revenue of $6.96 billion.

Statutory net income dropped as well.

For March, statutory net income was $372 million, down 54 percent from $806 million in March 2014.

For the nine months ending March 31, 2015, statutory net income was $2.15 billion, down 21 percent from $2.6 billion in the nine months ending March 31, 2014.

As of March 31, 2015, total APFC assets were $54.5 billion, up 6 percent from $51.1 billion on March 31, 2014.

Total expenditures for the month were $8.4 million. For the nine months from July 1, 2014, through March 31, 2015, total expenditures came to $74 million, an average of $8.2 million spent per month. The fiscal year 2104 total expenditures came to $100.9 million.

DJ Summers is a reporter for the Alaska Journal of Commerce.