All Tuvalu Trust Fund Meeting Minutes Since 1 January 2022 All Tuvalu Trust Fund Annual Reports Since 1 January 2022

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DFAT released the 2025 Annual Report of the Tuvalu Trust Fund (TTF), a jointly-managed investment fund established under an International Trust Fund Agreement. The report covers the financial year ending 30 September 2025 and documents the fund's governance, investment performance, and operations. The TTF reached a market value of AUD $293.9 million, with contributions of A$12 million from the Australian Government and NZD $4.5 million from the New Zealand Government during the reporting period. The fund is managed through a board structure including an Investment Committee and Tuvalu Trust Fund Advisory Committee, with investment implementation handled by Mercer. Meeting minutes and portions of the annual report were withheld under section 33 of the Freedom of Information Act, citing exemptions related to business affairs and legal professional privilege. The disclosure demonstrates Australia's ongoing development assistance engagement with Tuvalu through this long-term sovereign wealth fund mechanism.