News & Events

Trust Fund Committee Conducts First Quarter Meeting to Review Trust Fund Performance to October 31st, 2019

WASHINGTON, D.C. (January 2nd, 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) first quarter meeting on December 18th via teleconference. The meeting covered the Fund’s investment performance for the July-September quarter as well as an update to the end of October. For the July-September quarter, the Fund gained 0.75%, net of fees, and had an ending net asset value of $689,703,444 (preliminary and unaudited). The increase was due to gains in all asset classes except for slight losses in small/mid cap equities, emerging market equities and the...

Fiscal Year 2020 Contribution Received

The Trust Fund for the People of the Federated States of Micronesia received a scheduled contribution per the Compact of Free Association, as Amended, in the amount of $33,809,600 made by the United States government on October 1st, 2019. The contribution was invested per the Investment Policy Statement previously agreed to by the Trust Fund Committee and the Fund’s Investment Adviser, Mercer Investment Consulting.

Fiscal Year 2018 Annual Report and Audit Completed

The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) approved the Fiscal Year 2018 (FY18) Annual Report on April 1st. The FY18 Audited Financial Statements were completed by the independent auditor, Baker Tilly Virchow Krause, LLP, on March 28th. Both reports were released to the respective governments. The FY18 audit performed by Baker Tilly was completed on time and according to U.S Generally Accepted Auditing Standards and Generally Accepted Government Auditing Standards issued by the Comptroller General of the United States. There were no audit findings. The full reports can be found at: https://fsmcfatf.com/file-repository/ The...

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