Trust Fund Committee Conducts Third Quarter Meeting to Review Trust Fund Performance to May 30th, 2022 and Conduct Other Trust Fund Business

WASHINGTON, D.C. (July 11, 2022)– 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) third quarter meeting on June 29 (EDT) and 30 (Pohnpei) via videoconference. The meeting covered the Fund’s investment performance for the January-March quarter and a current market update to June 2022, including the market volatility that has impacted investment performance for 2022. For May, the last completed month of the performance review, the Trust Fund had gained 0.2% (benchmark 0.3%) and had a net asset value of $995,660,774, For fiscal year 2022-to-date (October 1 2021-May...

Trust Fund Committee Approves FY21 Annual Report and Annual Audit Completed

WASHINGTON, D.C. (April 5th, 2022)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) approved the Fiscal Year 2021 (FY21) Annual Report on 3/31/22. The FY21 audit report was also completed by the Fund's independent auditor, Baker Tilly. The Fund finished the fiscal year with a restricted fiduciary net position of $999,763,601 as of 9/30/21. The increase was primarily due to interest, dividends, and realized and unrealized gains from investment of $182,626,639 plus the scheduled FY21 U.S. government contribution of $35,277,200. The Fund had a weighted annual rate of return of 22.1% for FY21 compared...

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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