Alaska Administrative Code
Title 15 - Revenue
Chapter 137 - Receipt, Custody, Investment, and Management of State Funds
Article 3 - Alaska Permanent Fund Corporation Investment Activities
15 AAC 137.500 - Leverage
Universal Citation: 15 AK Admin Code 15 AAC 137.500
Current through August 30, 2024
(a) A manager of permanent fund assets may, with the prior approval of the executive director or chief investment officer, utilize leverage as part of the investment strategy for the portfolio for which the manager is responsible, so long as the creditor's recourse on the leverage amount is
(1) not a general obligation of the
permanent fund or the APFC; and
(2)
is limited to either
(A) the permanent fund
assets for which the manager acts as manager; or
(B) other specific assets of the permanent
fund.
(b) A manager of permanent fund assets shall use leverage, if at all, in a prudent manner that is consistent with leverage applied by professional asset managers using similar investment strategies.
Authority:AS 37.13.120
AS 37.13.206
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