RERF Annual Performance Report (1 January – 31 December 2024)

This report outlines the performance of the Revenue Equalization Reserve Fund (RERF) for the twelve-month period ending 31 December 2024. It provides quarterly market updates and measures the Fund’s results against its established benchmarks.

Governance and Oversight

Oversight of the RERF is provided by the RERF Investment Committee, chaired by the Minister of Finance. The Investment Unit within the National Economic Planning Office serves as the Committee’s secretariat and manages the Fund’s middle- and back-office operations.

Transparency and Accountability

In line with good governance practices, the Investment Committee and the Investment Unit monitor the Fund’s performance and prepare regular reports for Parliament, development partners, and the people of Kiribati. This ensures transparency and accountability in the management of the nation’s reserves.

What’s Included

This report includes:

• Quarterly fund manager commentaries
• The Fund’s valuation prepared by the custodian, Bank of New York Mellon (BNYM)
• Analysis and insights from the Investment Unit, Ministry of Finance and Economic Development (MFED)

For more information, please contact:
National Economic Planning Office, Ministry of Finance and Economic Development