Trust Fund Committee Conducts Third Quarter Meeting to Review Trust Fund Performance to May 30th, 2023 and Conduct Other Trust Fund Business
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%,...