Taking into account the well-being of the people in general and women and children in particular and above all, the sustainability of Primary Health Care led to the initiation of the Bhutan Health Trust Fund (Trust Fund) sometime during 1997. It was formally launched on 12 May 1998 at the WHO Headquarters in Geneva.
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Investment Policy Statement
Investment Management Governance
Investment Management of BHTF Funds is conducted by the Asset Management Committee (AMC). The AMC is appointed by the Board of BHTF who also appoints the Chairperson of the AMC. The activities of the AMC are guided by the Terms of Reference and BHTF Investment Policy Statement.
The purpose of this Investment Policy Statement is to establish guidelines for BHTF’s investment portfolio (the “Portfolio”). The statement also incorporates accountability standards that will be used for monitoring the progress of the Portfolio’s investment program and for evaluating the contributions of the manager(s) hired on behalf of BHTF and its beneficiaries. This Investment Policy Statement sets for the investment objectives, distribution policies, and investment guidelines that govern the activities of the AMC and any other parties to whom the AMC has delegated investment management responsibility for Portfolio assets.
The investment policies for the BHTF have been formulated consistent with BHTF’s anticipated financial needs and in consideration of the BHTF’s tolerance for assuming investment and financial risk, as reflected in the majority opinion of the AMC. The Investment policy statement takes into consideration the short-term and long-term financial goals of BHTF and intends to provide sufficient investment flexibility in the face of changes in capital market conditions and in the financial circumstances of BHTF. The Portfolio is to be invested with the long-term objective of preserving the real purchasing power of assets while in the short-term providing a relatively predictable and growing stream of annual distributions in support of primary health care in Bhutan
Fund Mobilization Strategy
For more than 2 decades, BHTF has been supporting the funding of essential drugs and vaccines within the country as part of the Royal Government of Bhutan’s initiative to provide free healthcare for all of its citizens. Each year with rising costs of the essential drugs and vaccines coupled with the increase in noncommunicable diseases within the country, BHTF’s ability to meet this mounting cost of financing essential drugs and vaccines through successful fund mobilization is paramount to BHTF’s sustainability.
Thus, the Fund Mobilization Strategy of BHTF with focus on (a)Accountability (b)Trusteeship (c)Transparency (d)Strong Engagement with Healthcare System and (e)Visibility, provides a strategic guide towards mobilizing fund through innovative fund-raising ideas and also provides crucial insights into how BHTF can maximize the existing resources and address its sustainability issue.