The Pacific Islands Investment Forum (PIIF) was established in the Cook Islands in May, 2018, at the Forum of the CEOs. The objective of the PIIF is to provide support for the education needs of the member organisations, to provide a forum for dialog between the members, and to support the investment and co-investment of members . The PIIF is the new Forum that has evolved from the former Provident Funds and Social Security Forum (PPFSSF), that was charged with the prime responsibility of managing and growing the retirement savings of their members.
The PIIF Constitution was adopted at the inaugural general meeting in Rarotonga, Cook Islands, on the 28th of May 2018, and officially registered as an Incorporated Society in the Cook Islands on the 6th of June 2018.
The 18 founding members of the PIIF in alphabetical order:
Cook Islands National Superannuation Fund, Fiji National Provident Fund, Kiribati Provident Fund, Nauru Sovereign Wealth Fund, New Zealand SuperFund, Ngati Awa Group Holdings, Papua New Guinea – Nambawan Super, Papua New Guinea – NASFUND, Samoa National Provident Fund, Solomon Islands National Provident Fund, Tokelau Trust Fund, Tonga National Retirement Benefits Fund, Tonga Retirement Fund Board, Tuvalu National Provident Fund, Tuvalu Trust Fund , Unit Trust of Fiji, Unit Trust of Samoa, Vanuatu National Provident Fund
In its prior existence the PPFSSF was formed in 2005 and registered in the Solomon Islands with 7 founding members that came together in the true spirit of Pacific cooperation and collaborate to resolve common issues amongst the members.
Between 2005 and 2018 the PPFSSF held 6 Forum Meetings and grew the membership of the Forum to 11 Members representing 11 Pacific Countries.
In 2015, the Forum resolved to approve a Statement of Corporate Intent to drive improvements to the PPFSSF and appoint a secretariat tasked with supporting and delivering on the objectives of the Forum, leading to the initiation of the PIIF.
What does the PIIF do?
Every year the CEOs meet for the CEO Forum providing an opportunity to build relationships with Funds from around the Pacific, discussing best practices, share investment experiences, provide opportunities, and raising relevant issues in the Pacific affecting their Funds and the industry.
The CEO Forum includes the Annual General Meeting to pass the annual accounts, review the direction of the Forum, establish the education plans, set the Forums objectives, and elect the Chairperson and host of the next CEO Forum. The CEO Forum also provides for regional and international organisations to engage with the Forum and its members.
The PIIF has formed a key partnership with i3 Investment Solutions, holding an annual Investment Masterclass that provides education on Investment Strategy, Implementation, Management, and Governance. The Forum has recently developed a new partnership with Fi360, a specialist training provider in the area of governance to support Boards and Trustees in the Investment Industry. The Forum also has a relationship with the ASFA and AIST organisations in Australia that provide recognised qualifications in the industry.
A key objective of the PIIF is the ability to provide engagement and build relationships with each other. The outcome of this is the opportunity for members to share investment opportunities, particularly in the Pacific region where each Fund is a specialist at investing within their own countries. It also provides an opportunity for the pooling of funds to enable access to large scale investment in infrastructure across the region.