News & Events

Trust Fund Committee Conducts Second Quarter Meeting and Update of Trust Fund Performance to February 28th, 2019; Audit and Annual Report Completed

WASHINGTON, D.C. (April 3rd, 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) second quarter meetings on March 28th, 2019. The meeting covered the Fund’s investment performance for the October-December 2018 quarter as well as the January-February 2019 period, and a review of the Fund’s FY18 annual report and audit. For the October-December 2018 quarter, the Fund lost 8.6%, net of fees, and had an ending net asset value of $383,716,006. Losses were due to volatility caused by U.S. and global economic and finance uncertainty, especially in...

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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