News & Events

Trust Fund Committee Conducts Third Quarter Meeting and Update of Trust Fund Performance to March 31st 2019

WASHINGTON, D.C. (May 16th, 2019)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Federated States of Micronesia (the Fund) conducted its fiscal year 2019 (FY19) third quarter meetings on May 14th (Washington D.C.) and 15th (Pohnpei), 2019. The meeting covered the Fund’s investment performance for the January-March quarter as well as the April-early May period. For the January-March quarter, the Fund gained 7.2%, net of fees, and had an ending net asset value of $662,910,285 (preliminary and unaudited). The increase was due to gains across all asset classes, particularly in U.S., Non-U.S., and Global public equity asset...

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...

Fiscal Year 2019 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 $32,242,320 made by the United States government on October 2nd, 2018. 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.

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