However, the volatility in global equity markets in 2022 resulted in the TTF’s value falling by 7 percent as compared to the end of 2021.

[5] An agreement to establish the trust fund was signed in Suva, Fiji on 16 June 1987 by representatives of the governments of Tuvalu, Australia, New Zealand and the United Kingdom.

Australia and New Zealand became involved in the Suva Agreement as part of the aid programs of those countries to the island nations in the South Pacific, which have limited natural resources or sources of government revenue.

[10] At the commencement of the trust fund, Tuvalu provided A$1.6 million, the United Kingdom donated A$8.5m, Australia A$8.0m and New Zealand A$8.3m.

Australia and New Zealand continue to support the Tuvalu Trust Fund and provide other forms of development assistance.

The Advisory Committee calculates the maintained value of the funds in the 'A Account' at 30 September of each year based on the Australian consumer price index.

The operation of the Fund through two accounts assists in stabilizing the long-term financial situation of the Government of Tuvalu as well as addressing short-term budget needs.

[21] There is no specific language in the agreement that established the Tuvalu Trust Fund as to the minimum balance of the 'B Account'.

"[7] The Tuvalu Trust Fund has contributed roughly 15% of the annual government budget each year since 1990.

[14] With a capital value of about 2.5 times GDP, the Trust Fund provides an important buffer for Tuvalu's volatile income sources from fishing and royalties from the revenue from licensing of the .tv domain name.

[18] The global financial crisis affected the FTF, which is required to maintain its value in real terms before a distribution can be made.

At 30 September 2010, the maintained value was AUD$27.3 million; the result of capital growth and contributions from development partners.