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

WASHINGTON, D.C. (December 21, 2021)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2022 (FY22) first quarter meeting on December 14 (EST) and 15 (Pohnpei) via videoconference. The meeting covered the Fund’s investment performance for the July-September 2021 quarter and a current market update to December 2021, including the effect of the COVID-19 pandemic on the Fund as well as the global economy and financial markets. For the July-September 2021 quarter, the Fund gained 0.33%, net of fees, below the benchmark of 0.74%. The net asset value of the Fund...

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