News & Events

Trust Fund Committee Conducts Second Quarter Meeting, 3/26/18

The Trust Fund Committee of the Trust Fund for the People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2017 second quarter meetings on March 26th in San Francisco. The meeting included an update of the Fund's investments for the October-December 2017 quarter and updates to March. Other agendas items included a presentation of the fiscal year 2017 Audited Financial Statements and Annual Report. The documents were approved to be sent to the member governments of the Federated States of Micronesia and the United States. The Committee also discussed the distribution policy of the Fund for the post fiscal year 2023...

Fiscal Year 2017 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 2017 (FY17) Annual Report on March 26th. The FY17 Audited Financial Statements were completed by the independent auditor, Baker Tilly Virchow Krause, LLP, on March 26th and presented to the Committee on the same date. Both reports were released to the respective governments. The Fund’s restricted fiduciary net position value increased 21.0% to $564,970,738 for FY17 from $466,938,730 for FY16. The increase was primarily due to contributions from the United States government ($29,489,680) and gross investment income from investments ($69,270,387). There was...

Fiscal Year 2018 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 $30,819,840 made by the United States government on October 3, 2017, 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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