Latest news with #APFC
Time of India
29-07-2025
- Business
- Time of India
UPSC EPFO 2025 recruitment begins for 230 vacancies; Check applications process, last date, syllabus, exam pattern, eligibility
The Union Public Service Commission (UPSC) has started the recruitment process for 230 posts in the Employees' Provident Fund Organisation (EPFO). The online application process begins on July 29, 2025, at 12 PM, and the last date to apply is August 18, 2025. Candidates can apply on the official website — UPSC EPFO 2025 Recruitment The recruitment drive is being conducted to fill vacancies for two roles, Enforcement Officer/Accounts Officer (EO/AO) and Assistant Provident Fund Commissioner (APFC). Interested candidates should check the official notification before applying to confirm their eligibility. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Management Others Cybersecurity others Design Thinking Healthcare MBA Data Analytics Leadership Data Science Product Management CXO Project Management Artificial Intelligence Digital Marketing Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Eligibility criteria for UPSC EPFO 2025 To apply for both EO/AO and APFC posts, candidates must have a Bachelor's degree in any discipline from a recognised university. For the EO/AO post, the upper age limit is 30 years for General and EWS categories. SC/ST candidates are eligible for a relaxation of 5 years, while OBC candidates get a 3-year relaxation. For the APFC post, the maximum age is 35 years for General and EWS categories. The age limit is extended to 38 years for OBC candidates, 40 years for SC/ST candidates, and 45 years for PwBD candidates. Live Events UPSC EPFO 2025: Salary Selected candidates will be appointed under the 7th Central Pay Commission structure. EO/AO will be placed in Pay Matrix Level-8, and APFC will be appointed under Pay Matrix Level-10. UPSC EPFO 2025 Exam Pattern The UPSC will conduct a two-stage selection process. First, a written examination will be held, followed by an interview for shortlisted candidates. Final appointments will be made based on a combined merit list from both stages. How to apply for UPSC EPFO 2025 Applicants can follow these steps: Go to the official website — Click on the "UPSC EPFO 2025 Apply Online" link Register using valid details and fill in the application form Upload required documents, including photo and signature Pay the applicable application fee Submit the form and take a printout UPSC EPFO 2025: Application fee Candidates from General, OBC, and EWS categories must pay a processing fee of ₹25. Examination fee may apply as per rules. There is no fee for SC, ST, PwBD, and women applicants. UPSC EPFO 2025: Important dates Application Start Date: July 29, 2025 (from 12 PM) Last Date to Apply: August 18, 2025 Exam Date: To be announced For more details and updates, candidates should regularly visit the UPSC website.
Time of India
29-07-2025
- Business
- Time of India
UPSC EPFO Recruitment 2025: Apply online for 230 EO, AO and APFC posts at upsconline.nic.in
UPSC recruitment 2025: Apply online for EO, AO and APFC posts in EPFO at UPSC EPFO recruitment 2025: The Union Public Service Commission (UPSC) has released a recruitment notification under Special Advertisement No. 52/2025 inviting online applications for a total of 230 vacancies in the Employees' Provident Fund Organisation (EPFO), Ministry of Labour & Employment. The vacancies are for the posts of Enforcement Officer/Accounts Officer (EO/AO) and Assistant Provident Fund Commissioner (APFC). Interested candidates can apply online through the official website of the Commission, The online application process begins on July 29, 2025, and will continue until August 18, 2025 (11:59 PM). Selection will be made through direct recruitment by selection. UPSC EPFO recruitment 2025: Important dates Event Date Opening of application July 29, 2025 Closing date for submission August 18, 2025 (11:59 PM) UPSC EPFO recruitment 2025: Vacancies and reservation details The recruitment is being conducted for 156 vacancies of EO/AO and 74 vacancies of APFC posts. Detailed category-wise breakup is given below: Reservation Category EO/AO APFC Unreserved (UR) 78 32 Economically Weaker Section (EWS) 1 7 Other Backward Classes (OBC) 42 28 Scheduled Castes (SC) 23 7 Scheduled Tribes (ST) 12 0 Persons with Benchmark Disabilities (PwBD) 9 3 Total Vacancies 156 74 The vacancies are suitable for candidates belonging to various categories of Persons with Benchmark Disabilities (PwBD), including Blindness and Low Vision, Deaf and Hard of Hearing, Locomotor Disability, Cerebral Palsy, Autism, Mental Illness, and Multiple Disabilities, as per the details in the official notification. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Japanese AI invention allows you to speak 68 languages instantly. The idea? Genius. Enence 2.0 Undo Eligibility criteria for EO/AO and APFC posts For the EO/AO post, candidates must possess a Bachelor's Degree in any subject from a recognized university. The maximum age limit is: • 30 years for UR/EWS, • 33 years for OBC, • 35 years for SC/ST, • 40 years for PwBD. For the APFC post, candidates must hold a Degree from a recognized university or equivalent. A Diploma in Company Law/Labour Laws/Public Administration is desirable. The maximum age limit is: • 35 years for UR/EWS, • 38 years for OBC, • 40 years for SC, • 35 years for ST, • 45 years for PwBD. How to apply online for UPSC EO/AO and APFC posts at Step 1: Visit the official UPSC website at Step 2: Click on the relevant link for "Online Recruitment Application (ORA) for EO/AO and APFC Posts." Step 3: Complete the registration process and obtain login credentials. Step 4: Fill in the application form with personal, academic, and professional details. Step 5: Upload the required documents, pay the fee, and submit the form. Take a printout of the final submission for future reference. Job responsibilities and pay scale The EO/AO and APFC roles involve work in enforcement, recovery, accounts, administration, legal, pension, and IT operations in EPFO. Duties include conducting inquiries, settlement of claims, cashbook maintenance, reconciliation of bank statements, and preparation of MIS returns. • EO/AO post is classified as Group "B", Non-Ministerial with Pay Level-08 in the Pay Matrix as per the 7th CPC. • APFC post is classified as Group "A", Non-Ministerial with Pay Level-10 in the Pay Matrix as per the 7th CPC. Important instructions for applicants Candidates must apply only through the official website. No offline applications will be accepted. They must ensure all details are entered correctly as incorrect submissions may lead to disqualification. UPSC EPFO recruitment 2025: Additional details Both EO/AO and APFC posts are permanent positions with headquarters in New Delhi. Candidates currently employed in government services may be eligible for leave salary and pension contributions for two years, subject to conditions. The Commission may relax qualification criteria for well-qualified candidates, as per its discretion. Applicants are advised to carefully read the complete advertisement and eligibility details before applying. Read the official UPSC EPFO recruitment 2025 notice here Direct link to apply online for UPSC EPFO recruitment 2025 TOI Education is on WhatsApp now. Follow us here . Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Time of India
23-07-2025
- Business
- Time of India
UPSC EPFO 2025 short notification released: Registration begins on this date at upsconline.nic.in
The Union Public Service Commission (UPSC) has officially released the short notification for the EPFO 2025 recruitment drive, announcing a total of 230 vacancies under the Employees' Provident Fund Organisation. These include 156 posts for Enforcement Officer/Accounts Officer (EO/AO) and 74 posts for Assistant Provident Fund Commissioner (APFC). The full notification will be published on July 26, 2025, and the online application window will remain open from July 29 to August 18, 2025. This exam is among the most sought-after central government opportunities for graduates seeking a stable and high-impact career in the public sector. UPSC EPFO 2025 Recruitment The UPSC EPFO 2025 recruitment is being conducted for two key positions: Enforcement Officer/Accounts Officer (EO/AO) and Assistant Provident Fund Commissioner (APFC). There are 156 vacancies for the EO/AO post and 74 vacancies for the APFC post. Both these roles come under the purview of the Ministry of Labour and Employment, Government of India. They are considered highly prestigious and play a significant role in shaping and implementing labour and social security policies, making them influential positions within the Indian bureaucratic framework. Particulars Details Exam Name UPSC EPFO 2025 Conducting Body Union Public Service Commission (UPSC) Posts EO/AO and APFC Total Vacancies 230 Short Notification Released July 22, 2025 Detailed Notification PDF July 26, 2025 Application Dates July 29 to August 18, 2025 Exam Mode Offline (Pen & Paper) Selection Stages Written Test + Interview Official Website How to apply for UPSC EPFO 2025 Here is how candidates will be able to apply for EPFO recruitment, once registration begins: Visit the official UPSC website – Click on the 'Apply Online' tab under the Recruitment section Complete the registration process with valid email and phone number Fill in the application form with accurate academic and personal details Upload photograph, signature, and relevant certificates Pay the application fee Download and save the application confirmation for future reference TOI Education is on WhatsApp now. Follow us here . Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Yahoo
30-05-2025
- Business
- Yahoo
APFC Board Examines Asset Allocation, Approves Targeted Portfolio Adjustments
SITKA, Alaska, May 30, 2025--(BUSINESS WIRE)--The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) held its quarterly meeting and the Ethics, Audit, & Cybersecurity Committee meeting in Sitka and via webinar on May 28 and 29. During the Board meeting, the Trustees reviewed the Fund's asset allocation study, approved the FY26 operating budget alongside Board Resolution 25-01, and advanced strategic shifts within the Real Estate portfolio, as well as the Public Equities and Fixed Income portfolios. The APFC Board conducts one meeting a year in a rural or remote area to broaden public engagement and increase awareness of the Permanent Fund. The Board appreciated Senator Stedman's and Representative Himschoot's participation, reflecting the importance of legislative partnership in advancing stakeholder accountability and support for the proposed single-fund endowment constitutional amendment. "We thank the community of Sitka for their hospitality, the local legislative delegation for their attendance, and the opportunity to present to the Sitka Assembly. By holding meetings in communities throughout our great state, we reaffirm our responsibility to be accountable and accessible stewards of Alaska's greatest financial resource," said Chair Jason Brune. Performance The Permanent Fund's total value was $80.8 billion at the quarter's close, reflecting steady growth amid ongoing market complexity. As of March 31, 2025, the Fund returned 4.55% for the fiscal year, outperforming its performance benchmark by 29 basis points (bps), matching the passive benchmark, and trailing the Return Objective of 5.50%. Over the 5-year period, the Total Fund's performance delivered strong relative results at 10.49%. The Fund outperformed its three benchmarks: the passive index of 9.71%, the performance benchmark of 9.93%, and the Real Return Objective of 9.38%. "Our focus has always been on building a resilient portfolio that performs over time, not chasing short-term trends or looking backwards with the benefit of hindsight," said Chief Investment Officer Marcus Frampton. "We are committed to a disciplined, forward-looking strategy designed to meet the needs of Alaskans." APFC's Investment Consultant, Callan, reviewed the Fund's performance, offering insights into current market conditions, benchmark comparisons, and broader macroeconomic trends, noting that trailing quarter performance places the total Fund above median relative to large public funds and the large endowments/foundations peer group. Investment Advisory Group The Board values the Investment Advisory Group's (IAG) guidance, expertise, and its important role in supporting the Fund's long-term stewardship. The Board voted to appoint Janet Becker-Wold, CFA, to the IAG and appreciates the interest of all the candidates in response to the competitive state procurement. Britt Harris concluded his IAG service in May 2025, expressing appreciation and gratitude. Chair Brune noted, "We are very grateful to Britt Harris for his service and contributions to the Board. And, we are excited to welcome Janet Becker-Wold to the IAG, whose expertise will support the Board's oversight and strengthen our commitment to informed, disciplined governance." Risk & Compliance Chief Risk & Compliance Officer Sebastian Vadakumcherry delivered a comprehensive Risk & Compliance overview. The report affirmed the Fund remains well within its approved risk tolerances, with key indicators showing healthy margins relative to established thresholds. The presentation also included an analysis of asset class contributions to risk, geographic and currency exposures, and compliance monitoring activity. Private Income: Asset Class Overview Ross Alexander, Senior Portfolio Manager, and Terek Rutherford, Associate, provided an update on APFC's Private Income portfolio, covering recent activity, performance, and thematic trends across Infrastructure and Private Credit. In line with the asset class's strategic direction, APFC continues to increase co-investment activity to capture higher returns and reduce fee burdens. Since its inception, the portfolio has generated more than $5.4 billion, underscoring its role in delivering stable, enduring value. Real Estate: Asset Class Strategic Updates Allen Waldrop, APFC Deputy CIO of Private Markets, and Eric Ritchie, Senior Portfolio Manager, who now leads the Real Estate portfolio, provided an update on the asset class, highlighting its role in the Fund, drivers of recent performance, and strategic shifts to enhance long-term performance and resilience. Annual Asset Allocation Review In considering the portfolio's asset allocation, the Board and staff affirmed APFC's mandate to manage the portfolio for a maximum risk-adjusted return, while acknowledging the state of Alaska's dependence on an annual 5% market draw from the Fund's earnings under the current two-account structure. After thoughtful review and discussion, the APFC Board of Trustees unanimously elected to maintain the existing asset allocation targets for the portfolio, citing continued uncertainty and volatility in global markets. Vice Chair Adam Crum and Trustees Ethan Schutt and Craig Richards were appointed to a working group to further explore a multi-year approach to asset allocation, recognizing the importance of purposeful planning in light of an evolving market environment. The following asset allocation targets for FY26 were adopted by the Board of Trustees effective July 1, 2025: • Public Equities 32% (no change) • Fixed Income 20% (no change) • Private Equity 18% (no change) • Real Estate 11% (no change) • Private Income 10% (no change) • Absolute Return 7% (no change) • Tactical Opportunities 1% (no change) • Cash 1% (no change) • TOTAL: 100% While the Board is responsible for setting asset allocation, APFC staff are tasked with executing the Investment Policy to optimize risk-adjusted returns within established guidelines and make specific investments. The policy allows staff to respond to market conditions dynamically through allocation bands. "The Board's direction to maintain the current asset allocation targets into FY26 continues to provide a strong strategic foundation for the Fund," said Frampton. "We are focused on executing with discipline and precision to meet our long-term return goals, and we believe the Fund is well-positioned to navigate a complex market environment." Alongside the asset allocation discussion, the Board voted to affirm a staff proposal for a phased reduction in Tracking Error (TE) limits for both the Public Equities and Fixed Income asset classes – aiming to reduce high levels of volatility while maintaining flexibility to outperform. The plan reduces TE limits for the portfolios as follows: Public Equities: 350 to 200 bps (by Dec. 31, 2025) and then to 100 bps (by Dec. 31, 2026). Fixed Income: 250 to 150 bps (by Dec. 31, 2025) and then to 75 bps (by Dec. 31, 2026). Additionally, the Board unanimously approved staff recommendations to expand the Real Estate asset class benchmark to 'Expanded NPI,' remove REITs from the benchmark, and adopt a 10% limit to REITs in the portfolio. The Board also directed that staff work to reduce exposure to direct real estate holdings by 50% over the next 5 years. Updates will be effective as of July 1, 2025, and will be reflected in the Investment Policy. Budget Review and Approval The Board unanimously approved the FY26 proposed budget in alignment with its strategic plan initiatives and previously established guidance. Trustees reaffirmed the importance of annual rules-based statutory inflation-proofing of the Permanent Fund's Principal and their position that the $4 billion special appropriation in FY22 to the Principal cannot be retroactively labeled as such. The Board encouraged the Legislature to honor its commitment to annual inflation-proofing under the two-account structure, emphasizing the importance of consistent rules-based discipline for intergenerational equity. Trustees look forward to working further with the Legislature on this issue. Ethics, Audit, & Cybersecurity Committee The Ethics, Audit & Cybersecurity Committee reviewed the FY25 Audit Plan with KPMG and considered the internal operational risk assessment, reaffirming APFC's commitment to governance transparency, robust financial oversight, and strong internal controls. Chief Financial Officer Valerie Mertz and Senior Portfolio Accountant Jacki Mallinger presented the fiscal year-to-date financial performance updates, and Chief Risk & Compliance Officer Sebastian Vadakumcherry provided a detailed Internal Controls Review. The Committee also held an executive session for a cybersecurity update with Chief Information Technology Officer Scott Balovich, reinforcing the ongoing diligence to protect assets. The next meeting of the Board of Trustees and Ethics, Audit & Cybersecurity Committee Meeting will be on September 2, 2025, virtually via Teams Webinar. About APFC The Alaska Permanent Fund Corporation (APFC) manages the assets of the Alaska Permanent Fund, a globally recognized sovereign wealth fund. Established in 1976, the Fund preserves Alaska's nonrenewable mineral and oil wealth as a renewable financial resource for current and future generations of Alaskans. The Fund also serves as the primary source of revenue for Alaska's unrestricted general funds, supporting the state's economic stability and prosperity. APFC is a quasi-independent state agency with one mission: to manage and invest the assets of the Alaska Permanent Fund and other funds designated by law. The Alaska Permanent Fund is the largest sovereign wealth fund in the U.S., with $81.4 billion in assets as of April 30, 2025. For more information, visit View source version on Contacts Paulyn Swanson 907.796.1520 – pswanson@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
30-05-2025
- Business
- Business Wire
APFC Board Examines Asset Allocation, Approves Targeted Portfolio Adjustments
SITKA, Alaska--(BUSINESS WIRE)--The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) held its quarterly meeting and the Ethics, Audit, & Cybersecurity Committee meeting in Sitka and via webinar on May 28 and 29. During the Board meeting, the Trustees reviewed the Fund's asset allocation study, approved the FY26 operating budget alongside Board Resolution 25-01, and advanced strategic shifts within the Real Estate portfolio, as well as the Public Equities and Fixed Income portfolios. The APFC Board conducts one meeting a year in a rural or remote area to broaden public engagement and increase awareness of the Permanent Fund. The Board appreciated Senator Stedman's and Representative Himschoot's participation, reflecting the importance of legislative partnership in advancing stakeholder accountability and support for the proposed single-fund endowment constitutional amendment. 'We thank the community of Sitka for their hospitality, the local legislative delegation for their attendance, and the opportunity to present to the Sitka Assembly. By holding meetings in communities throughout our great state, we reaffirm our responsibility to be accountable and accessible stewards of Alaska's greatest financial resource,' said Chair Jason Brune. Performance The Permanent Fund's total value was $80.8 billion at the quarter's close, reflecting steady growth amid ongoing market complexity. As of March 31, 2025, the Fund returned 4.55% for the fiscal year, outperforming its performance benchmark by 29 basis points (bps), matching the passive benchmark, and trailing the Return Objective of 5.50%. Over the 5-year period, the Total Fund's performance delivered strong relative results at 10.49%. The Fund outperformed its three benchmarks: the passive index of 9.71%, the performance benchmark of 9.93%, and the Real Return Objective of 9.38%. 'Our focus has always been on building a resilient portfolio that performs over time, not chasing short-term trends or looking backwards with the benefit of hindsight,' said Chief Investment Officer Marcus Frampton. 'We are committed to a disciplined, forward-looking strategy designed to meet the needs of Alaskans.' APFC's Investment Consultant, Callan, reviewed the Fund's performance, offering insights into current market conditions, benchmark comparisons, and broader macroeconomic trends, noting that trailing quarter performance places the total Fund above median relative to large public funds and the large endowments/foundations peer group. Investment Advisory Group The Board values the Investment Advisory Group's (IAG) guidance, expertise, and its important role in supporting the Fund's long-term stewardship. The Board voted to appoint Janet Becker-Wold, CFA, to the IAG and appreciates the interest of all the candidates in response to the competitive state procurement. Britt Harris concluded his IAG service in May 2025, expressing appreciation and gratitude. Chair Brune noted, 'We are very grateful to Britt Harris for his service and contributions to the Board. And, we are excited to welcome Janet Becker-Wold to the IAG, whose expertise will support the Board's oversight and strengthen our commitment to informed, disciplined governance.' Risk & Compliance Chief Risk & Compliance Officer Sebastian Vadakumcherry delivered a comprehensive Risk & Compliance overview. The report affirmed the Fund remains well within its approved risk tolerances, with key indicators showing healthy margins relative to established thresholds. The presentation also included an analysis of asset class contributions to risk, geographic and currency exposures, and compliance monitoring activity. Private Income: Asset Class Overview Ross Alexander, Senior Portfolio Manager, and Terek Rutherford, Associate, provided an update on APFC's Private Income portfolio, covering recent activity, performance, and thematic trends across Infrastructure and Private Credit. In line with the asset class's strategic direction, APFC continues to increase co-investment activity to capture higher returns and reduce fee burdens. Since its inception, the portfolio has generated more than $5.4 billion, underscoring its role in delivering stable, enduring value. Real Estate: Asset Class Strategic Updates Allen Waldrop, APFC Deputy CIO of Private Markets, and Eric Ritchie, Senior Portfolio Manager, who now leads the Real Estate portfolio, provided an update on the asset class, highlighting its role in the Fund, drivers of recent performance, and strategic shifts to enhance long-term performance and resilience. Annual Asset Allocation Review In considering the portfolio's asset allocation, the Board and staff affirmed APFC's mandate to manage the portfolio for a maximum risk-adjusted return, while acknowledging the state of Alaska's dependence on an annual 5% market draw from the Fund's earnings under the current two-account structure. After thoughtful review and discussion, the APFC Board of Trustees unanimously elected to maintain the existing asset allocation targets for the portfolio, citing continued uncertainty and volatility in global markets. Vice Chair Adam Crum and Trustees Ethan Schutt and Craig Richards were appointed to a working group to further explore a multi-year approach to asset allocation, recognizing the importance of purposeful planning in light of an evolving market environment. The following asset allocation targets for FY26 were adopted by the Board of Trustees effective July 1, 2025: • Public Equities 32% (no change) • Fixed Income 20% (no change) • Private Equity 18% (no change) • Real Estate 11% (no change) • Private Income 10% (no change) • Absolute Return 7% (no change) • Tactical Opportunities 1% (no change) • Cash 1% (no change) • TOTAL: 100% While the Board is responsible for setting asset allocation, APFC staff are tasked with executing the Investment Policy to optimize risk-adjusted returns within established guidelines and make specific investments. The policy allows staff to respond to market conditions dynamically through allocation bands. 'The Board's direction to maintain the current asset allocation targets into FY26 continues to provide a strong strategic foundation for the Fund,' said Frampton. 'We are focused on executing with discipline and precision to meet our long-term return goals, and we believe the Fund is well-positioned to navigate a complex market environment.' Alongside the asset allocation discussion, the Board voted to affirm a staff proposal for a phased reduction in Tracking Error (TE) limits for both the Public Equities and Fixed Income asset classes – aiming to reduce high levels of volatility while maintaining flexibility to outperform. The plan reduces TE limits for the portfolios as follows: Public Equities: 350 to 200 bps (by Dec. 31, 2025) and then to 100 bps (by Dec. 31, 2026). Fixed Income: 250 to 150 bps (by Dec. 31, 2025) and then to 75 bps (by Dec. 31, 2026). Additionally, the Board unanimously approved staff recommendations to expand the Real Estate asset class benchmark to 'Expanded NPI,' remove REITs from the benchmark, and adopt a 10% limit to REITs in the portfolio. The Board also directed that staff work to reduce exposure to direct real estate holdings by 50% over the next 5 years. Updates will be effective as of July 1, 2025, and will be reflected in the Investment Policy. Budget Review and Approval The Board unanimously approved the FY26 proposed budget in alignment with its strategic plan initiatives and previously established guidance. Trustees reaffirmed the importance of annual rules-based statutory inflation-proofing of the Permanent Fund's Principal and their position that the $4 billion special appropriation in FY22 to the Principal cannot be retroactively labeled as such. The Board encouraged the Legislature to honor its commitment to annual inflation-proofing under the two-account structure, emphasizing the importance of consistent rules-based discipline for intergenerational equity. Trustees look forward to working further with the Legislature on this issue. Ethics, Audit, & Cybersecurity Committee The Ethics, Audit & Cybersecurity Committee reviewed the FY25 Audit Plan with KPMG and considered the internal operational risk assessment, reaffirming APFC's commitment to governance transparency, robust financial oversight, and strong internal controls. Chief Financial Officer Valerie Mertz and Senior Portfolio Accountant Jacki Mallinger presented the fiscal year-to-date financial performance updates, and Chief Risk & Compliance Officer Sebastian Vadakumcherry provided a detailed Internal Controls Review. The Committee also held an executive session for a cybersecurity update with Chief Information Technology Officer Scott Balovich, reinforcing the ongoing diligence to protect assets. The next meeting of the Board of Trustees and Ethics, Audit & Cybersecurity Committee Meeting will be on September 2, 2025, virtually via Teams Webinar. About APFC The Alaska Permanent Fund Corporation (APFC) manages the assets of the Alaska Permanent Fund, a globally recognized sovereign wealth fund. Established in 1976, the Fund preserves Alaska's nonrenewable mineral and oil wealth as a renewable financial resource for current and future generations of Alaskans. The Fund also serves as the primary source of revenue for Alaska's unrestricted general funds, supporting the state's economic stability and prosperity. APFC is a quasi-independent state agency with one mission: to manage and invest the assets of the Alaska Permanent Fund and other funds designated by law. The Alaska Permanent Fund is the largest sovereign wealth fund in the U.S., with $81.4 billion in assets as of April 30, 2025. For more information, visit
