By Nazario Rodriguez Jr.
Horizon news staff

The country’s current value of stocks and bonds amounted to $166.2 million had been doubled since 1995, according to a press statement released yesterday by the Senate Public Information Office following the recent 2007 Seminar on Palau’s investments of the Compact of Free Association (COFA) Trust Fund.
The COFA investment seminar was held on Feb. 27-28 in Guam with Senate Floor Leader Alan Seid and Sen. Joshua Koshiba representing Palau.
In attendance were representatives from Merrill Lynch, Atalanta Sosnoff, Aberdeen Missouri Valley Partners, Bank of Hawaii, Evergreen Investments and Gabelli Asset Management.
Senate Legal Counsel David W. Greenlees, Esq., accompanied Seid and Koshiba in the seminar.
The press statement said that the results of the seminar were positive.
It quoted Sen. Seid as saying that the meeting was a ‘healthy’ opportunity to keep updated with Palau’s financial investments.
Accordingly, the Palau COFA Trust Fund invested $66 million in the stock and bond market in 1995.
Thus, the current value of stocks and bonds of $166.2 million represent more than double Palau’s original investments in 1995.
The statement said that Palau’s investments are in a variety of stocks and bonds, including stocks in health care, information technology, hotels, airlines and aerospace.
"This is a very good way to understand how the decisions are made to make investments," the press statement quoted Seid as saying.
"It’s interesting to see the different ways funds are managed in various areas, stocks and bonds, which is entirely as intended by the Olbiil Era Kelulau so we don’t have all of our eggs in one basket," said Seid.
Seid, who is chairman of the Senate Committee on Ways and Means and Financial Matters, stressed that although some investments have lost value in recent years, he expressed confidence in the investment managers and the COFA Trust Fund Board.
"We need to hold out for the long-term to allow for a healthy rebound," he said.
He said that it is comforting to understand how investments are made and he is confident in the country’s future.
He, however, expressed concern that other leaders from Palau and the community in general do not have the opportunity to understand Palau’s financial investments, as the Investment Seminars are typically held outside of the country.
"I would recommend to the Minister of Finance and the COA Trust Fund that this Seminar be held in Palau at least every three years to get all of our leaders and the community involved," he said.
The statement said that while in Guam, Seid and Koshiba, along with Greenlees, made a courtesy call to United States Air Force Colonel Joel Westa, the Deputy Commander of the 36th Wing at Andersen Air Force Base.
Koshiba took the opportunity to promote Palau as a tourism destination for military personnel based in Guam.