Trust fund outperforms in a peer comparison
President David WR Adeang attended the official Committee
meeting of the Intergenerational Trust Fund for the people of the
Republic of Nauru (the Fund) in Canberra, 23 May.
His Excellency was instrumental in the establishment of the Fund
in November 2015 with the main objective to generate future
investment earnings that will provide a source of revenue to the
Republic of Nauru post 2033.
The Fund's earnings will allow the Government of Nauru to
provide future investments in education, health, environment and
infrastructure for the people of Nauru.
At the end of the March quarter the Fund was valued at $348m and
as reported at the meeting, was 0.4 per cent above the set
target.
The Fund's Investment Advisor, Mercer, also provided a peer
comparison showing the Fund outperforming similar growth funds over
a five to seven year investment period with a return gross of fees
of 10.1 per cent and 9.4 per cent, respectively.
With ongoing contributions and continued growth of the Fund, the
Fund is on target to meet the future needs of the Government of
Nauru and its people.
ENDS///