Performance at a Glance
FY = Fiscal Year
Annual Weighted Investment Return Chart
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY24
FY25
Investment Return
11.63%
15.25%
-19.18%
1.07%
8.58%
-1.55%
18.49%
13.88%
7.99%
-4.13%
10.37
14.09
7.01
2.81
11.63
23.7
-18.63
14.64
20.66
12.16
Source: Fiscal Year 2024 Annual Report, Trust Fund for the People of the Republic of the Marshall Islands
Total Contributions, Income, Expenses and Net Positions Since Inception Table
(in millions)
| FY04 | FY05 | FY06 | FY07 | FY08 | FY09 | FY10 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Position (Beginning of Fiscal Year) | $0.00 | $32.16 | $45.15 | $63.10 | $83.81 | $76.32 | $90.45 | $112.79 | $125.17 | $165.56 | $206.15 | $240.12 | $247.14 | $294.54 | $356.93 | $402.43 | $434.66 | $514.42 | $668.93 | $567.55 | $567.55 | $1,042.05 |
| Contributions | ||||||||||||||||||||||
| U.S. | $7.00 | $7.59 | $8.22 | $8.95 | $9.71 | $10.78 | $11.13 | $11.80 | $12.47 | $13.31 | $13.98 | $14.53 | $15.32 | $16.05 | $16.85 | $17.71 | $18.65 | $19.53 | $20.13 | $22.02 | $200.00 | $200.00 |
| Taiwan | $0.00 | $1.75 | $0.75 | $0.75 | $0.75 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $2.40 | $0.00 | $0.00 |
| RMI | $25.00 | $2.50 | $2.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.00 | $0.65 | $2.20 | $0.00 | $0.00 | $0.25 | $5.50 | $5.25 | $5.00 | $5.00 | $0.00 | $0.00 |
| Total | $32.00 | $11.84 | $11.47 | $9.70 | $10.46 | $13.18 | $13.53 | $14.32 | $14.87 | $15.71 | $16.38 | $17.58 | $19.92 | $18.45 | $19.25 | $20.36 | $26.55 | $27.18 | $27.53 | $29.42 | $200.00 | $200.00 |
| Investment Earnings Less Fees and Expenses | ||||||||||||||||||||||
| Investment Earnings | $0.16 | $1.21 | $6.62 | $11.25 | -$17.54 | $1.59 | $9.58 | -$1.49 | $26.02 | $25.35 | $18.10 | -$9.97 | $28.07 | $44.56 | $26.53 | $12.15 | $53.50 | $127.66 | -$128.54 | $87.24 | $166.66 | $151.04 |
| Fees and Expenses | $0.00 | $0.05 | $0.14 | $0.23 | $0.41 | $0.65 | $0.77 | $0.45 | $0.50 | $0.47 | $0.52 | $0.59 | $0.59 | $0.62 | $0.28 | $0.28 | $0.29 | $0.34 | $0.37 | $0.35 | $0.40 | $0.51 |
| Distributions | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8.09 | 0.00 |
| Total | $0.16 | $1.15 | $6.48 | $11.01 | -$17.95 | $0.94 | $8.81 | -$1.93 | $25.52 | $24.88 | $17.58 | -$10.56 | $27.48 | $43.94 | $26.25 | $11.87 | $53.22 | $127.33 | -$128.91 | $86.89 | $158.18 | $150.52 |
| Net Position (End of Fiscal Year) | $32.16 | $45.15 | $63.10 | $83.81 | $76.32 | $90.45 | $112.79 | $125.17 | $165.56 | $206.15 | $240.12 | $247.14 | $294.54 | $356.93 | $402.43 | $434.66 | $514.42 | $668.93 | $567.55 | $683.87 | $1,042.05 | $1,392.57 |
Note: Amounts rounded.
Note: “Fees and Expenses” are not inclusive of all Money Manager fees given that in the
Audited Annual Financial Statements some Money Manager fees are deducted directly from the respective asset’s value.
Source: Audited Annual Financial Statements since FY05.
Total Cumulative Contribution and Net Position Annual Gain, FY04-FY25
The Trust Fund has earned $622,855,008 from contributions totaling $769,723,017
Total Value
Contributions
Net Gain
FY04
$32,157,847
$32,000,000
$157,847
FY05
$45,152,407
$43,838,500
$1,313,907
FY06
$63,100,518
$55,309,300
$7,791,218
FY07
$83,813,820
$65,008,892
$18,804,928
FY08
$76,334,992
$75,472,592
$855,400
FY09
$90,451,765
$88,656,883
$1,794,882
FY10
$112,794,554
$102,189,097
$10,605,447
FY11
$125,177,120
$116,506,444
$8,670,676
FY12
$165,568,385
$131,380,444
$34,187,941
FY13
$206,156,456
$147,087,094
$59,069,362
FY14
$240,121,186
$163,471,894
$76,649,292
FY15
$247,142,058
$181,056,467
$66,085,591
FY16
$294,545,533
$200,979,567
$93,565,966
FY17
$356,933,415
$219,432,417
$137,500,996
FY18
$402,436,422
$238,687,017
$163,749,405
FY19
$434,666,826
$259,045,867
$175,620,959
FY20
$514,429,278
$285,590,867
$228,838,412
FY21
$668,934,668
$312,769,317
$356,165,351
FY22
$567,557,523
$340,302,117
$227,255,407
FY23
$683,873,694
$369,723,017
$314,150,677
FY24
$1,042,053,644
$569,723,017
$472,330,627
FY25
$1,392,578,025
$769,723,017
622,855,008
Source: Audited Annual Financial Statements FY04-FY25
A and C Account Net Position Balances, FY22-FY23 Table
| FY22 | FY23 | FY23 % of Account | |
|---|---|---|---|
| Total Assets | $567,557,525 | $683,873,696 | |
| A Account | $485,479,624 | $601,795,795 | 100.00% |
| U.S. | $362,076,475 | $449,584,172 | 74.71% |
| Marshall Islands | $71,152,727 | $88,496,567 | 14.71% |
| Taiwan | $52,250,422 | $63,715,056 | 10.59% |
| C Account | $82,077,901 | $82,077,901 | 100.00% |
| U.S. | $61,214,674 | $61,318,017 | 74.71% |
| Marshall Islands | $12,029,478 | $12,069,896 | 14.71% |
| Taiwan | $8,833,749 | $8,689,988 | 10.59% |
Note: Amounts rounded to nearest dollar. FY2023 was the last year to record the A and C Account balances given the Change to Accounts 1, 2 and 3 according to the 2023 Trust Fund Agreement
Source: Fiscal Year 2023 Annual Report, Trust Fund for the People of the Republic of the Marshall Islands
Account 1, 2, and 3 Net Position Balances, FY24-25
| Account | FY24 | FY25 | FY25 % of Account |
|---|---|---|---|
| Total Assets | $1,042,053,644 | $1,392,578,025 | |
| Account 1 | $828,873,378 | $925,236,947 | 100.00% |
| United States | $619,227,244 | $691,217,669 | 74.71% |
| Marshall Islands | $121,889,267 | $136,059,929 | 14.71% |
| Taiwan | $87,756,868 | $97,959,349 | 10.59% |
| Account 2 | $213,180,265 | $467,341,079 | 100.00% |
| United States | $213,180,265 | 467,341,079 | 100.00% |
| Marshall Islands | - | - | 0.00% |
| Taiwan | - | - | 0.00% |
| Account 3 | $0 | $0 | |
| United States | - | - | 0.00% |
| Marshall Islands | - | - | 0.00% |
| Taiwan | - | - | 0.00% |
Note: Amounts rounded to nearest dollar.
Source: Audited Annual Financial Statements FY25