WASHINGTON, D.C. (January 9, 2024)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2025 (FY 2025) first quarter meeting by teleconference on December 17 (Washington DC) and 18 (Pohnpei). The Committee reviewed the Fund’s investment performance from July 1 to September 30, 2024 – the last quarter of FY 2024 and conducted business to update members on Trust Fund activities. For the July-September quarter, the Fund had a net asset value of $1,483,642,362 as of September 30. The Fund had a gain for the quarter of 5.14%, net of fees,...

WASHINGTON, D.C. (September 25, 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) fourth quarter meeting by teleconference on September 18 (Washington DC) and 19 (Pohnpei). The Committee reviewed the Fund’s investment performance from April 1 to August 31, 2024, discussed steps to transition to the 2023 Trust Fund Agreement, reviewed the Investment Policy Statement and asset allocation options, and approved the FY 2025 investment and administrative budget, amongst other business. For the April-June quarter, the Fund had a net asset value of $1,410,642,586 as of June...

WASHINGTON, D.C. (June 26, 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) third quarter meeting by teleconference on June 18 (Washington DC) and 19 (Pohnpei). The Committee reviewed the Fund’s investment performance from January 1 to May 31, 2024, discussed steps to transition to the 2023 Trust Fund Agreement and approved a service agreement with Baker Tilly for the fiscal year (FY) 2024 and FY 2025 audits. For the January-March quarter, the Fund had a net asset value of $1,162,036,177 as of March 31. The Fund...