The Permanent Fund Advisors of Anchorage, a fund that invests in the Alaska Permanent Fund, says the stock market is doing very well.
The fund’s portfolio has surged by nearly $100 million since its inception in 2008.
“The fundamentals are strong, and the fund’s performance has been very consistent over the past two years,” said Kevin E. Sorensen, the fund co-founder.
“I think the fundamentals are good for us, and it looks like we’ll get to the point where the fund will be profitable.”
The fund is an investment vehicle that uses the state’s existing Permanent Fund to purchase investments from private companies in Alaska.
The companies are paid by the fund to purchase the assets and deliver them to the state.
In a recent report, Alaska Permanent fund said its portfolio of more than $200 million has been outperforming the market in the past five years.
“We’ve been able to make our investments in the portfolio of private companies, which we believe is a great asset class for the state,” Sorenesen said.
Sorensens fund has also been able sell some of its assets for cash.
“There are times where we have sold assets in recent years, and that’s not really what we’re doing,” Sorensen said.
The funds cash position, however, has been stable, which has been good for investors.
The fund was founded in 2008 by Erika and Robert Fiske, who have been active investors in Alaska for over 20 years.
Sorennsen said they set out to create a fund with the most diversified portfolio possible, and one that invests more in the private sector.
Sorennsens investments are diversified, and he is buying a wide range of companies.
“In general, our investments are in private companies that are not subject to the U.S. Securities and Exchange Commission,” Sornsen said, citing the example of the state of New Mexico, where he is currently invested.
“But we do invest in a number of other companies that do fall under the SEC’s definition.”
The private companies Sorenkens investments have invested in include the National Basketball Association (NBA), The Walt Disney Company (DIS), and United States Cellular (USCC).
The fund also holds some investments in other U.s. companies.
The private equity firm, founded in 1990 by Sorennesen and his brother, is headquartered in Denver.
The firm is led by C. Brian O’Sullivan, who joined the firm in 2015.
The pair have been instrumental in building up a reputation for high-quality private equity investments, according to The Next Media.
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