APAFS was founded in 2000 for and by representatives from public and private institutional funds from around the Asia Pacific Region.
Its flagship event, the Pacific Region Investment Conference is held annually, and this year will be held in Manila on Nov. 21 and Nov. 22. The annual two-day conference is accredited for continuing education hours (Continuing Professional Education) for the following designations: AIF, AIFA, CPA, CIMA, GFS and upon request, provides program details for other designations required CPE.
In 2020, the association joined the United Nations Principles for Responsible Investment organization as a network supporter. The PRI is a UN supported organization whose mission is to be the world’s leading proponent of responsible investing. Through education and advocacy, the PRI promotes its six principles of responsible investing among its network of investors.
The board of directors of APAFS is currently comprised of Artemio “Ricky” Hernandez, deputy executive manager, A.B. Won Pat International Airport, Guam, and treasurer and chairperson of the Investment Committee of the Government of Guam Retirement Fund, chairman; Patrick U. Tellei, president of Palau Community College, vice chairman; Raaj Kurapati, executive vice chancellor and chief operating officer, University of Tennessee Health Science Center, treasurer; Anna Mendiola, CEO, FSM Development Bank, secretary; Randall V. Wiegand, vice president, Administration & Finance/chief business officer at the University of Guam; Mary A.Y. Okada, president of Guam Community College; Phillip Mendiola-Long, CEO and managing director of Sherman Consulting LLC, chairman of the Marianas Public Land Trust;; Frankie M. Eliptico, vice president for administration and advancement, Northern Marianas College; Dwight Heine, managing director, Marshall Islands Development Bank; Francis Carlos Domnick, CEO, Office of Commerce and Investment for the Marshall Islands; Dennis Momotaro, board member, Social Security Administration of the Marshall Islands; Leon Panuelo Jr., administrator, FSM Social Security Administration; Kaleb Udui, Jr., Minister of Finance, Palau; Sen. Rukebai Kukio Inabo, chairwoman of the Senate Committee on Ways & Means and Financial Matters of the Olbiil Era Kelulau or Palau Congress; Emais Roberts, chairman, College of Micronesia board of regents and College of Micronesia-Land Grant representative; Lisa R. Andon, acting executive director, Micronesia Conservation Trust; and Lindsay Timarong, president and CEO, Pacific Islands Development Bank.
For further information on APAFS and upcoming events, see
www.apafs.org
Q: What were the initial aims of APAFS?
A: The early goals of APAFS were simply to provide a regional forum for trustees of government funds and private trust funds to gather, learn and discuss investment and governance issues among industry experts and each other.
Q: Has its mission changed through the years?
A: We still believe that we exist to provide a learning forum for our membership and conference attendees, but we also feel that as a region with billions invested in companies around the world, we have a responsibility to advocate issues that affect our region. This is why, since 2013, we’ve included a focus on an Environment, Sustainability, and Governance theme. Every year since then, APAFS has reserved prime space in our conference agenda to remind and encourage attendees about the importance of reviewing a company’s ESG performance as well as its financial performance.
Q: The annual conference has expanded to a Fiduciary Week (this year from Nov. 18 onward, to include the conference). What are the aims of Fiduciary Week, and what does it typically include?
A: For several years, APAFS has partnered with renowned organizations to provide courses on investment governance and practices. Some of these courses lead to national certifications. A series of classroom instruction are offered, and begin on the Monday through Wednesday, followed by the conference on Thursday and Friday.
Q: How many members does APAFS have, and has that membership also changed through the years?
A: As a non-profit, we operate with a very small administration. Ashley Roland, APAFS’s administrator, does a tremendous job at managing the conference logistics and details. In addition to that, she maintains membership contact which has steadily grown to the hundreds, representing almost all of the regional government organizations. In addition, we have private trust fund members which include institutions of learning and well as private trusts.
Q: The venue for the past several years has been in Manila. Why is that?
A: We have attendees who come from our region, the South Pacific, throughout Asia, as well as asset managers from Asia, Europe and the U.S. Our conference destination has to have certain features that accommodate all our attendees. In looking at our options, Manila continues to check most boxes in terms of our needs. It’s easily accessible from most worldwide destinations, venue costs remain reasonable, and Manila has the room capacity to accommodate our growing attendance.
Q: Who can attendees expect to hear from during the conference?
A: We have our regular speaker faculty, and they are prepared to deliver this year’s agenda. However, this year we are highlighting the use of Artificial Intelligence in ESG. We also have added a session on crypto-currency and block chain technology. Our keynote speaker, Kelly Forbes of the AI Asia Pacific Institute will start our conference and she’ll also be on a panel discussing this top-of-mind topic.
Q: Are there social events where attendees can network?
A: Yes. There will be a series of social events throughout the week.
Q: Does APAFS maintain a relationship with its members through the year, and if so, how?
A: Yes. Between our annual conferences, APAFS holds smaller country conferences throughout our Micronesia. This year, we held one day classroom courses in the NMI, Guam, the Marshall Islands, the FSM: Yap and Palau. In addition, we are available for our members to use us as an on-line reference guide. mbj