News & Events

Committee Conducts 2nd Quarter Meeting to Review Trust Fund Performance Amid COVID-19 Pandemic Financial Fallout, Review Fiscal Year 2019 Annual Audit Results and Approve Fiscal Year 2019 Annual Report

WASHINGTON, D.C. (March 31st, 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) second quarter meeting on March 25th (EDT) and 26th (Pohnpei) via teleconference. The meeting covered the Fund’s investment performance for the October-December 2019 quarter as well as a current market update given the COVID-19 pandemic and the effect on the Trust Fund as well as the global economy and financial markets. For the October-December 2019 quarter, the Fund gained 5.78%, above the benchmark of 5.63%. The net asset value of the Fund was $765,686,436 as...

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.

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