The Dunleavy administration today released a report commissioned by the Governor. The study was conducted by an outside legal firm to review the Alaska Permanent Fund Corporation (APFC). The purpose of the report was to ascertain what if any recommendations or changes could potentially be made to improve its operations and avoid real or perceived conflicts of interest. The study was performed by WilmerHale, an international law firm with offices across the United States and Europe.

The authors of the study wrote, “WilmerHale concluded that the APFC staff and Board of Trustees are dedicated to the Fund’s vision of delivering outstanding returns for Alaskans. All trustees and employees demonstrated a clear commitment to upholding ethical standards and a personal commitment to upholding the standards and mission of the APFC. This includes a commitment to ensuring that the APFC operates with the highest ethical standards, and the Fund has put in place a number of updates to existing guidance over the past months. WilmerHale commends the APFC for this work.”

WilmerHale did make several recommendations. Those included changes in the Board of Trustees Communications Policy, orientation and written guidance for Trustees, improved recruitment, and retention plans for employees and educating Alaskans about the role of a Trustee.

Governor Dunleavy is encouraged that the Trustees and APFC managers have already begun implementing the recommendations and encourages them to adopt all the recommendations contained in the report.

Click here for a copy of the WilmerHale report.