Guidelines for the IPAF Membership

1. IPAF Membership

   The IPAF shall be comprised of two types of memberships:

   General Members (GMs). General Members shall be public asset management companies (AMCs) and institutions where a majority of its stake is owned by the government and/or is mandated by the government to manage public and private assets and loans. GMs must have the capacity to host and fund the annual Summit and Conference and to support training seminars. In addition, GMs are entitled to the following privileges:

   1. Automatic participation in the annual Summit and Conference, and other IPAF Activities (i.e., Coordination Council, training seminars);
   2. Membership to the Coordination Council (see Section II of this Guideline); and
   3. Voting rights, on all key issues, which the members must mutually address.

   Associate Members (AMs). Associate Members shall be any other relevant institutions. AMs are entitled to attend IPAF activities such as annual Summit and Conference and training seminars. AMs interested in becoming GMs must first apply (submitting all necessary requirements) to the IPAF Secretariat.

2. Procedure for Accession to IPAF Membership

   For New Institutions Interested in Joining the IPAF

   Every institution (New AMCs) with interest in joining the IPAF will be recommended to be an Associate Member for at least one year. After the initial term, the New AMCs may apply for general membership through the same procedure with the current Associate Members.

   The new institutions shall be required to submit to the IPAF Support Team the following documents:

   1. Official correspondence with attached IPAF Application Form, addressed to the IPAF Support Team and signed by the General Manager (or equivalent high level position) of the applicant AMC, signifying its interest to join the IPAF. The letter must also indicate the applicant AMC’s willingness to provide support for the IPAF events and activities;
   2. Company Information (including but not limited to annual report, corporate profile, official ownership structure, publicly audited/disclosed documents preferred);
   3. Recommendation/signed endorsement from one of the incumbent IPAF General Members; and
   4. Duly filled-out form with contact information of an authorized representative committed to liaise with the IPAF. The authorized representative will become the primary contact person for all IPAF related activities.

   However, New AMCs may be instantly accepted as a General Member if the following requirements are fulfilled:

   1. Meet the minimum requirements for a General Member (Article 5 of the IPAF Charter);
   2. IPAF General Members, through consultation and consensus, agree to accept the application for General Membership of the New AMC.

   New AMCs applying for general membership shall also acknowledge and accept to undertake the obligations required from a General Member.

   For Associate Members Requesting Promotion to General Membership

   Associate members applying for General Membership (Applicant AMCs) shall be required to submit to the IPAF Support Team the following documents:

   1. Official correspondence addressed to the IPAF Support Team and signed by the General Manager (or an equivalent level position) of the AM institution signifying its interest to be promoted to general membership. The letter must also indicate the AM’s willingness to provide support for the IPAF events and activities;
   2. History of activities and participation in the IPAF events and activities (e.g., summit meetings, conferences, training seminars, etc.);
   3. Recommendation/Signed endorsement from one of the incumbent IPAF General Members.

   Once all information from the New and/or Applicant AMC has been received, the IPAF Support Team shall circulate to and seek consultation and/or concurrence from all General Members. All General Members shall be requested to submit a written opinion and/or concurrence (through email or other types of official correspondences) to the IPAF Support Team. A meeting of coordinating council may be convened if needed. Using this process, the IPAF Support Team may receive applications for membership and/or determined new members any time.

   Accession of New and/or Applicant AMCs to IPAF membership shall be determined on a consensus basis. When consensus has not been achieved, a simple majority vote from the General Members shall be applied. Alternatively, in cases where a majority of voters are not present, the IPAF Support Team may conduct a voting via an online survey (signed by GM members) at any time.

   New institutions and AMs to be promoted to GM status shall be officially announced at the annual Summit meetings. Upon becoming an IPAF member, the institution shall be entitled to all privileges and responsibilities for the IPAF events and activities afforded to GMs and AMs.

   These procedures will be effective upon receipt of concurrence from a majority of the IPAF General Members.