News & Events

Trust Fund Committee Conducts Second Quarter Trust Fund Committee Meeting on March 22nd, 2018

The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its fiscal year 2018 second quarter meetings on March 22nd, 2018 in San Francisco. The Committee reviewed the Trust Fund's performance for the October-February period, reviewed the FY17 Annual Audit performed by the auditor, Baker Tilly Virchow Krause, LLP, reviewed the FY17 Annual Report, and discussed the distribution policy of the Trust Fund for the post FY23 era. As of February 28th, 2018, the market value of the Trust Fund was $389,647,054. The third quarter meeting will take place on May 21st-22nd, via teleconference....

Fiscal Year 2018 Contributions Made to Date

The Trust Fund for the People of the Republic of the Marshall Islands received on October 5, 2017 a scheduled contribution per the Compact of Free Association, as Amended, in the amount of $16,854,600 made by the United States government. Taiwan contributed $2,400,000 on April 25th, 2018 per agreements between the Taiwan, the Government of the Republic of the Marshall Islands and the Trust Fund. 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.

Fiscal Year 2017 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 2017 (FY17) Annual Report on May 14th. The FY17 Audited Financial Statements were issued by the independent auditor, Baker Tilly Virchow Krause, LLP, on March 30th and presented to the Committee on March 22nd. Both reports were released to the respective governments. The Fund’s restricted fiduciary net position value increased 21.2% to $356,933,415 for FY17 from $294,545,533 for FY16. The increase was primarily due to gross investment income of $44,558,126 and contributions from the United States government of $16,052,850 and Taiwan...

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