Institutional Investors

Alaska Permanent is still mulling direct route


The Alaska Permanent Fund in Anchorage has yet to decide whether or not to move a portion of its hedge fund portfolio into single manager hedge funds.

Earlier this year, Jeffrey Scott, CIO of the $37 billion fund, reminded trustees that the budget had underestimated investment manager fees by more than 50% for fiscal year 2011. This is despite staff’s success in negotiating some of the private asset management fees down. Specifically, officials had negotiated down the absolute return base fee with its fund of funds to 277 basis points, which is down