 October 29, 2004
The consensus expectations for the first quarter of fiscal year 2005 was that stocks would have positive returns while bonds would weaken for this period, balancing out for a net positive total return. Instead, the opposite happened. All of APFC's asset classes posted positive returns except U.S. stocks. Technology stocks in particular were expected to lead the market, but in fact have been among the worst performers. With this quarter, the APFC has discontinued the printed version of the quarterly report and will now publish quarterly results in a timelier manner to the Corporation's web site, www.apfc.org. The online version will contain all of the same information as the printed version regarding the performance of the Fund and it's asset classes, as well as a discussion of the market events that have affected the portfolio. "This fall, the APFC staff reviewed all of our publications to determine if the investment of staff time and budget resources was effective in educating and informing Alaskans regarding the Fund's structure, operations and investments," said Burns. "The printed quarterly report no longer meets this test, resulting in the decision to go with more timely publication to the web site." APFC also publishes monthly financial and performance reports at www.apfc.org, as well as the annual report for the previous fiscal year. Archives on the web site contain monthly, quarterly and annual reports from 1997 forward.
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