WASHINGTON, D.C. (April 8, 2024)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2024 (FY 2024) second quarter meeting by teleconference on March 14 (Washington DC) and 15 (Pohnpei). The Committee reviewed the Fund’s investment performance from October 1, 2023, approved the fiscal year 2023 Annual Report, received a presentation of the independent audit, and discussed future planning including possible investment policy and potential administrative structures and functions to facilitate implementation of the 2023 Trust Fund Agreement following its entry into force. (Note: the 2023 Trust Fund Agreement entered into...

WASHINGTON, D.C. (July 10, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2023 (FY23) third quarter meeting on June 28 (EDT) and 29 (Pohnpei) via teleconference. The Trust Fund Committee Members reviewed the Fund’s investment performance from January to May 31, 2023, reviewed the draft Investment Policy Statement and discussed possible Committee action to prepare for fiscal year 2024. As of May 31st, the Fund had a net asset value of $1,033,988,682. The Fund increased 3.8%, net of fees, (benchmark 4.1%) for the January-March quarter but was down 1.1%,...