The Pacific Island Investment Forum, hosted by the National Superannuation Fund and Nambawan Super Limited in Port Moresby, began on March 27th and will conclude this Friday March 31st.
The event has brought together heads of superannuation funds from across the Pacific Region to discuss issues of common interest, provide a forum for dialogue, support the educational needs of member organizations, and promote investment and co-investment opportunities.
Damien Beddoes is the CEO of Cook Islands National Superannuation Fund and was the first Chairman for the Pacific Island Investment Forum (PIIF) when they hosted in 2018. He currently serves as the Secretariat to support the board and drive the initiatives of the board.
The PIIF has over 20 members, with more than 75 billion dollars in assets under management, of which over 16 billion dollars of those investments are within the Pacific, representing more than 1.6 million contributing members.
According to Mr. Beddoes, the PIIF almost disappeared into the history books in 2015. The group needed to find its place and its purpose for its members and its place in the region. It took a special person, a leader like Ian Tarutia, to bring life back into the group and support its rebirth.
Ian backed Mr. Beddoes and others had to do a lot of groundwork, to reform and reorganize themselves and Ian's leadership was crucial in keeping the Pacific and their Funds together.
“Here in amazing Port Moresby, the lagatoi, the traditional sailing canoe of the motuan people of this area is a representation of what we do as investors. Meeting with other countries, other funds, sharing investment opportunities, we as the members of the Pacific Island Investment Forum, we want to recognize the enormous contribution Ian Tarutia has made to his Fund.
PIIF offered Tarutia a gift as recognition of his contributions and appointed him as Chairman of the PIIF during the AGM held that afternoon. They also established the Pacific Island Investment Forum Alumni for the first time and asked Tarutia to become their first member to ensure his leadership and skills are not lost to them and the Pacific.