SPECIAL NOTICE
R -- Trustee
- Notice Date
- 4/26/2004
- Notice Type
- Special Notice
- Contracting Office
- Dept of the Interior - National Business Center Washington DC Acquisition Branch MS1324 1849 C Street NW Washington DC 20240
- ZIP Code
- 20240
- Solicitation Number
- DOI-SNOTE-040426-002
- Archive Date
- 4/26/2005
- Description
- The Office of Insular Affairs (OIA) of the United States Department of the Interior (DOI) solicits your qualifications for providing for holding title to assets and acting as trustee for a Trust Fund for the People of the Federated States of Micronesia and a Trust Fund for the People of the Republic of the Marshall Islands. BACKGROUND Public Law 108-188 authorizes the creation of the two trust funds. Over the twenty years through 2023, Government of the United States will contribute $442 million to the trust fund for the Federated States of Micronesia (FSM) and $235 million to the trust fund for the Republic of the Marshall Islands (RMI). The RMI will contribute $25 million as soon as its trust fund is established and $2.5 million in each of the two subsequent years; the FSM will contribute $30 million by the end of this fiscal year (before October 1, 2004). Income will accumulate through the end of 2023. It is anticipated that $46 million will be available in fiscal year 2004 for the FSM trust fund, and $32 million for the RMI trust fund. After 2023, the income will aid in supporting the governmental activities of the FSM and the RMI. These activities are described in section 211 of the Compact of Free Association, as amended, relating to the FSM and section 211 of the Compact of Free Association, as amended relating to the RMI. Both amended compacts were approved in United States Public Law 108-188. For salient details please read the trust fund subsidiary agreements noted below and available on the web site of the Office of Insular Affairs (see URL citation below). The two trust funds will be incorporated separately in Washington, D.C. in the very near future. This RFI is intended to jump start the investment process. The responses to this RFI will be given to the two new Trust Fund Committees for their consideration as soon as each committee is established. At the discretion of each committee, action may be taken to employ the Trustee based on the information received. REQUEST The OIA is soliciting in this Request for Information (RFI) your qualifications for holding title to trust assets for a Trust Fund for the People of the Federated States of Micronesia or a Trust Fund for the People of the Republic of the Marshall Islands if you were chosen to be the Trustee for either or both trusts. Please respond specifically to each of the following requests: (1) Provide your trustee mission statement. (2) What is the value of the assets under your management? (3) How many trust accounts due you manage? Please show the numbers in each category of account. (4) Provide resumes showing the experience and tenure of your trust professionals. (5) Describe your recordkeeping capabilities. (6) Describe your reporting capabilities, both detailed and summary, and provide samples. (7) Provide your quality assurance standards. (8) Provide your client service standards. (9) How do you insure regulatory compliance? (10) Explain your processes for audit and risk reviews. (11) How do you calculate your fees? E.g., wrap fee, transaction fee, etc. (12) Are there any other fees or costs not covered in the previous question? (13) What differentiates you from your competition? (14) For temporary investment of corpus, what is the maximum interest rate at which you could place $32 million for three months? RELEVANT DOCUMENTS In order to properly respond to this RFI, interested parties must be conversant with the following documents - for the FSM: (1) Section 211, 215, and 216 of the Compact of Free Association, as amended, for the FSM, and (2) The agreement subsidiary to the Compact, as amended, relating to the FSM Trust Fund, and for the RMI: (1) Section 211, 216, and 217 of the Compact of Free Association, as amended, for the RMI, and (2) The agreement subsidiary to the Compact, as amended, relating to the RMI Trust Fund. These documents can be found at: www.doi.gov/oia/solicittrustfunds/documents.htm.
- Web Link
-
Please click here to view more details.
(http://ideasec.nbc.gov/j2ee/announcementdetail.jsp?serverId=NB140101&objId=131681)
- Record
- SN00573042-W 20040428/040426214430 (fbodaily.com)
- Source
-
FedBizOpps.gov Link to This Notice
(may not be valid after Archive Date)
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