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 30, 2022), the Trust Fund was down 3.3%, equaling the benchmark.

The Committee approved an updated Investment Policy Statement to guide investments over the next year. The Statement includes the asset allocation and updated capital market assumptions for the diversified investment portfolio. An ESG (environment, social and governance) policy was added to the statement in accordance with the climate change and sustainability interests of the members and their respective governments. The Committee believes that a sustainable investment approach that considers the environmental risks and opportunities is in the best interests of the Fund.

The next quarterly meeting will take place late August or early September 2022.

For more information on the Fund, visit the official website at https://fsmcfatf.com/.

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