Different Fiduciary experts invited by APAFS presented participants of the conference with the latest trends and practices affecting today’s institutional funds. The series of country conferences is “a venue for more sophisticated, in-depth discussions on investment of institutional funds and other topics relevant to fiduciaries of institutional funds.”
According to Daniel Roland, Executive Director of APAFS, “The whole idea behind the Association is education and knowledge control.”
For example, Roland said, the Compact of Free Association (COFA) Trust Fund Board and other investment personnel who are responsible for the management of funds, “we let them really understand what their fiduciary obligations and liabilities are.”
A mix of financial experts from private and public agencies attended the conference, including those from Palau Public Utilities Corporation, Palau National Communications Corporation, Palau Community College and different retirement systems. Delegates and senators who are responsible for overall funding of different programs were also in the conference.
Senator Mark Rudimch of the Committee on Ways and Means and Financial Matters was present.
“I think this conference is very timely since the COFA package has finally been signed,” Roland said.
APAFS, which was formed by representatives from public and private institutional funds from around the Asia Pacific Region, aims to provide regional resource to educate the finance and investment industries on current financial issues and on exercising prudent stewardship.
APAFS holds country conference once a year in each critical jurisdiction. “So we do one in Palau, Saipan, Guam, and Republic of Marshall Islands. We have country conferences in all member countries.”
The country conference is for member countries only. “So they can exchange ideas with say, people from FSM, and vice versa.”
Roland said they invited experts and speakers from outside to share ideas with the members.
Philip Mendiola-Long, President and CEO of Sherman Consulting, LLC, talked about the Prudent Process; Jason Miyashita, Vice President, Morgan Stanley Smith Barney, discussed how emotions play a part in investment; and Mark Heath, APAFS Deputy Executive Director, talked about the current status of APAFS.
“Once a year, we also have a large Annual Pacific Region Investment Conference. This year, for our 10th year, it will be held in Manila, Philippines on October 14 and 15,” Roland said.
The two-day conference will have a much wider set of topics, Roland added.
“We have multiple topics for our annual conference. We try to do the same thing here. We also have a couple of other educational sessions, general education,” he said.
Sponsors of the conference include, Atalanta Sosnoff, Metropolitan West Capital Management, LLC,
National Development Bank of Palau, MorganStanley SmithBarney, Sherman Consulting, LLC and Palau Public Utilities Corporation.
