 | |
| Company type | Sovereign wealth fund |
|---|---|
| Industry | Institutional investor |
| Genre | "binary trust fund structure". The binary structure consists of an endowment fund and a revolving fund. |
| Founded | 1987 |
| Founder | United Kingdom, Australia, New Zealand and the government of Tuvalu. |
| Headquarters | |
Key people | Professional Fund Managers - two Australian based firms - manage the fund on a day-to-day basis |
| Total assets | AUD$191 million (at end of 2022)[1] |
The Tuvalu Trust Fund is an international sovereign wealth fund established to benefit Tuvalu, a small, central Pacific island nation, by providing income to cover shortfalls in the national budget, underpin economic development, and help the nation achieve greater financial autonomy. The Tuvalu Trust Fund was established in 1987 by the United Kingdom, Australia and New Zealand.
The International Monetary Fund (IMF) 2014 Country Report noted the market value of the Tuvalu Trust Fund dropped during the global financial crisis;[2] however, the IMF 2016 Country Report estimates the total value of the fund had recovered to be AUD$131 million in 2012.[3] The policy of the Tuvuluan government has been to grow the maintained value of the Consolidated Investment Fund (CIF), from which the government can draw funds for government expenditure;[4] during 2016-2020 the government was able to save an average of 6.6% of GDP into the CIF.
In 2022, the value of the Tuvalu Trust Fund was approximately $190 million.[5] In 2021 the market value of the TTF rose by 12 percent to its highest level on record (261 percent of GDP). However, the volatility in global equity markets in 2022 resulted in the TTF’s value falling by 7 percent as compared to the end of 2021.[5]
- ^ "Tuvalu: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu". International Monetary Fund Country Report No. 2023/267. 21 July 2023. p. 9. Retrieved 24 September 2023.
- ^ "Tuvalu: 2014 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tuvalu" (PDF). International Monetary Fund Country Report No. 14/253. 5 August 2014. p. 17. Retrieved 21 March 2016.
- ^ "Tuvalu: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu" (PDF). International Monetary Fund Country Report No. 14/253. 4 October 2016. p. 7. Retrieved 4 February 2018.
- ^ "Government of Tuvalu 2017 National Budget" (PDF). Presented by the Hon Maatia Toafa Minister for Finance and Economic Development. 30 November 2016. Retrieved 26 August 2018.
- ^ a b "Tuvalu: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tuvalu". International Monetary Fund Country Report No. 2023/267. 21 July 2023. p. 6. Retrieved 24 September 2023.