News & Events

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 Fourth Quarter Meeting to Review Trust Fund Performance and Conduct Other Trust Fund Business

WASHINGTON, D.C. (November 17, 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) fourth quarter meeting on October 26 (EDT) and 27 (Pohnpei) via videoconference where the Trust Fund Committee Members reviewed the Fund’s investment performance, approved the Fiscal Year 2023 investment and administrative budget, and conducted other Trust Fund Committee business. The Members also reviewed their fiduciary responsibilities with the Fund’s legal counsel. Continuing a period of market volatility and weak economic performance, for September, the last completed month of the performance review, the Fund decreased by...

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