Committee Conducts 2nd Quarter Meeting to Review Trust Fund Performance, Review Fiscal Year 2020 Annual Report and Audit

WASHINGTON, D.C. (March 26th, 2020)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2021 (FY21) second quarter meeting on March 18th (EDT) and 19th (Pohnpei) via videoconference. The meeting covered the Fund’s investment performance for the October-December 2020 quarter as well as a current market update to March 2021 especially given the COVID-19 pandemic and the effect on the Fund as well as the global economy and financial markets. For the October-December 2020 quarter, the Fund gained 10.27%, slightly below the benchmark of 10.53%. The net asset value of the...

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