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Assembly finance committee reviews Land Trust Investment Fund strategy; APCM recommends no allocation changes
Summary
Alaska Permanent Capital Management presented the annual strategic review of the borough's Land Trust Investment Fund, reporting long‑term returns roughly in line with the policy benchmark, a single $1.2M withdrawal since inception, and a modeled sustainable distribution near 4.1%. No allocation changes were recommended for the remainder of 2025 or calendar year 2026.
Blake Phillips, director at Alaska Permanent Capital Management, told the Kenai Peninsula Borough Assembly Finance Committee on Dec. 1 that the borough’s Land Trust Investment Fund (LTIF) has performed close to expectations since APCM assumed management in June 2019, and he recommended no changes to the fund’s strategic allocation for the remainder of 2025 or for calendar year 2026.
"Since inception the LTIF has returned 7.37% gross of fees annually," Phillips said, adding net returns are roughly in the low 7 percent range. He told the committee the account has recorded total contributions just under $13.5 million, withdrawals of $1.2 million and about $5.4 million in net earnings…
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