Trust Fund Committee Conducts Fourth Quarter Meeting to Review Trust Fund Performance to August 31st, 2020 and Conduct Other Trust Fund Business

WASHINGTON, D.C. (September 9th, 2020)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2020 (FY20) fourth quarter meeting on September 2nd (EDT) and 3rd (Pohnpei) via videoconference. The meeting covered the Fund’s investment performance for the April-June 2020 quarter as well as a current market update given the COVID-19 pandemic and the effect on the Fund as well as the global economy and financial markets. For the April-June 2020 quarter, the Fund gained 11.52%, net of fees, above the benchmark of 11.41%. The net asset value of the Fund was...

Trust Fund Committee Conducts Third Quarter Meeting to Review Trust Fund Performance and Other Trust Fund Business

The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2020 (FY20) third quarter meeting on June 4th (EDT) and 5th (Pohnpei) via videoconference. The meeting covered the Fund’s investment performance for the January-March 2020 quarter as well as a current market update given the COVID-19 pandemic and the effect on the Fund as well as the global economy and financial markets. For the January-March 2020 quarter, the Fund lost 13.46%, below the benchmark of -13.07%. The net asset value of the Fund was $662,163,753, preliminary and unaudited, as of 3/31/20. The...

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