News & Events

WASHINGTON, D.C. (July 10, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2023 (FY23) third quarter meeting on June 28 (EDT) and 29 (Pohnpei) via teleconference. The Trust Fund Committee Members reviewed the Fund’s investment performance from January to May 31, 2023, reviewed the draft Investment Policy Statement and discussed possible Committee action to prepare for fiscal year 2024. As of May 31st, the Fund had a net asset value of $1,033,988,682. The Fund increased 3.8%, net of fees, (benchmark 4.1%) for the January-March quarter but was down 1.1%,...

WASHINGTON, D.C. (September 12, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2023 (FY23) fourth quarter meeting on August 23 (EDT) and 24 (Pohnpei) via teleconference. The Trust Fund Committee Members reviewed the Fund’s investment performance from April to July 31, 2023, approved service agreements for annual accounting and audit services, reviewed and approved the fiscal year 2024 (FY24) investment and administrative expense budget, and discussed possible Committee actions for FY24. For the April-June quarter, the Fund was up 2.6%, net of fees, (benchmark 2.8%) with a total net...

WASHINGTON, D.C. (April 28, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its Fiscal Year 2023 (FY23) second quarter meeting on April 18 in San Francisco. The Trust Fund Committee Members reviewed the Fund’s investment performance from October 1, 2022 to March 30, 2023, reviewed the fiscal year 2022 annual report and audit, and conducted an education session to review several Fund assets and the money manager selection process. Continuing a period of market volatility, as of February 2023, the last completed month of the performance review, the Fund increased 7.3%, net...