News & Events

Trust Fund Committee Conducts Fourth Quarter Meeting to Review Performance to July 31st, 2019 and Conduct an Education Session

WASHINGTON, D.C. (September 10th, 2019)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its fiscal year 2019 (FY19) fourth quarter meeting on September 7th in Honolulu. The meeting covered the Fund’s investment performance for the April-June quarter as well as an update to the end of July. The meeting also included an education session. For the April-June quarter, the Fund gained 3.3%, net of fees, and had an ending net asset value of $431,665,432 (preliminary and unaudited). The increase was due to gains across all asset classes, particularly in the private equity...

Fiscal Year 2018 Annual Report Release and Audit Completed for the Trust Fund for the People of the Republic of the Marshall Islands

The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) approved the Fiscal Year 2018 (FY18) Annual Report on March 28th. The FY18 Audited Financial Statements were issued by the independent auditor, Baker Tilly Virchow Krause, LLP, on March 28th and presented to the Committee on March 28th. Both reports were released to the respective governments. The FY18 audit performed by Baker Tilly was completed on time and according to U.S Generally Accepted Auditing Standards and Generally Accepted Government Auditing Standards issued by the Comptroller General of the United States. There were no audit findings....

Fiscal Year 2019 Contributions Made to Date

The Trust Fund for the People of the Republic of the Marshall Islands received on October 2, 2018 a scheduled contribution per the Compact of Free Association, as Amended, in the amount of $17,708,850 made by the United States government. The government of the Republic of the  Marshall Islands contributed $250,000 on October 9, 2018. The contributions were invested per the Investment Policy Statement previously agreed to by the Trust Fund Committee and the Fund’s Investment Adviser, Vanguard Institutional Advisory Services.

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