Tuvalu News

 

The following was a press released issued by the Tuvalu Trust Fund Board last week.

November 16, 2005

The Board of Directors of the Tuvalu Trust Fund are pleased to announce that at 30 September 2005 the Market Value of the Fund exceeded the calculated Maintained Value by A$12.457 million. Of this amount A$965,622 is available to support the 2005 budget and the balance of A$11.428 million will be available for 2006.
During the 2004/05 financial year the market value of the fund increased by a total of A$13.984 million or 16.4%.

The distribution for the 2005 budget was the first for three years, and the distribution available for the 2006 Budget will be the largest single year distribution from the Fund, exceeding the previous largest payout of $11.1 million available for the 1998 Budget.

The Fund is invested in a diversified portfolio managed by experienced international Fund Managers based in Australia.

 

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