Committee Conducts 2nd Quarter Meeting to Review Trust Fund Performance Amid COVID-19 Pandemic Financial Fallout, Review Fiscal Year 2019 Annual Audit Results and Approve Fiscal Year 2019 Annual Report

WASHINGTON, D.C. (March 31st, 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) second quarter meeting on March 25th (EDT) and 26th (Pohnpei) via teleconference. The meeting covered the Fund’s investment performance for the October-December 2019 quarter as well as a current market update given the COVID-19 pandemic and the effect on the Trust Fund as well as the global economy and financial markets. For the October-December 2019 quarter, the Fund gained 5.78%, above the benchmark of 5.63%. The net asset value of the Fund was $765,686,436 as...

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