Trust Fund Committee Reviews Investment Performance for January-May 2024 Period and Conducts Business to Implement the 2023 Trust Fund Agreement
WASHINGTON, D.C. (June 27, 2024)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its Fiscal Year 2024 (FY 2024) third quarter meeting in-person on June 20 (Washington DC) and 21 (Majuro). The Committee reviewed the Fund’s investment performance from January 1 to May 31, 2024, discussed steps to transition to the 2023 Trust Fund Agreement, and approved a service agreement with Baker Tilly for the fiscal year (FY) 2024 and FY 2025 audits. For the January-March quarter, the Fund had a net asset value of $782,019,348 as of March 31. The Fund...
Trust Fund Committee Reviews FY 2023 Performance and Business as it Prepares for Future Implementation of Trust Fund Agreement
WASHINGTON, D.C. (April 9, 2024)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its Fiscal Year 2024 (FY 2024) second quarter meeting by teleconference on March 21 (Washington DC) and 22 (Majuro). The Committee reviewed the Fund’s investment performance from October 1, 2023, agreed to approve the fiscal year 2023 Annual Report by e-mail, received a presentation of the independent audit, discussed the FY 2024 distribution monitoring and performance reporting, and discussed future planning including possible investment policy and potential administrative structures and functions to facilitate eventual implementation of the 2023 Trust...
Trust Fund Committee Conducts First Quarter FY 2024 Meeting – Reviews trust fund performance, discusses interim fiscal procedures, prepares for future implementation of 2023 Trust Fund Agreement once it enters into force
WASHINGTON, D.C. (December 4, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its Fiscal Year 2024 (FY24) first quarter meeting on November 29 in Honolulu, Hawaii. The Trust Fund Committee Members reviewed the Fund’s investment performance from July-October 30, 2023, reviewed the beginning of the FY23 audit, and discussed the timing, status, and fiscal procedures related to the Fund’s previously approved distribution. The Committee also had preliminary discussions regarding future administrative structures and functions to facilitate future implementation of the 2023 Trust Fund Agreement, which would enter into force after legislative...