Gold, Active Management, and Macro Hedge Funds: The Alaska Permanent Fund's Unconventional Allocation

Gold, Active Management, and Macro Hedge Funds: The Alaska Permanent Fund's Unconventional Allocation

The Interview: The Alaska Permanent Fund is the $75 billion sovereign wealth fund of the state of Alaska, and since oil was discovered in Alaska in the 1970s, the APF has been receiving royalties and investing that capital on behalf of Alaskan citizens. Every year, it pays out a dividend—a form of UBI—to the citizens, who also do not pay any state income tax. In this interview with Sean Fieler, president and CIO of Equinox Partners, Marcus Frampton, CIO of the APF, explains his own unconventional views on investing and how he is bucking the trend in the large institutional investor space. Together, they discuss why Frampton has allocated the APF in gold, active management, and macro hedge funds while resisting the urge to chase private equity like many of his peers. They also discuss Frampton's personal investing style and why he is so attracted to micro-cap stocks and OTC markets. Recorded on March 31, 2021. Key Learnings: Institutional investors, who are the major forces in global markets, are largely driven by the actuarial projections of consultants and, with a few exceptions like Marcus Frampton and the APF, tend to cluster into similar portfolios and assets. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Is a Bigger Move Coming?! | Trading the Markets

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RV crypto contributor Kris Bullock, aka Blastoplast, is back to dig into the latest price action and answer your questions on all things technical analysis in the world of macro and crypto, including ...

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The Fed's Mistake | Macro Mondays: July 6, 2026

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Andreas Steno Larsen and Mikkel Rosenvold are back to tackle one of the biggest questions in markets right now: have central banks misread the macro backdrop? They break down why inflation may be fall...

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Is Everyone Wrong About the Dollar? | Macro Mondays

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Andreas Steno and Mikkel Rosenvold are back in an episode of Macro Mondays that covers why everyone is wrong-footed on U.S. dollar positioning, what the latest developments in the U.S.–Iran ceasefire ...

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