News & Events

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...

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...

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...