WASHINGTON, D.C. (September 14, 2017)– The Trust Fund Committee of the Trust Fund for the
People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2017 fourth quarter
meetings on September 1st in Honolulu, Hawaii.
An education session covered presentations regarding investment oversight, portfolio design and
asset selection; calculation, reporting and payment of investment fees; and a review of the Fund to
fiscal year 2023 and beyond including a distribution analysis. The presentations were by Mercer
Investment Management and the Trust Fund’s Executive Administrator.
The business meeting followed the education session. Mercer presented the quarterly investment
review (April-June) and updates to July 31st. The Committee approved the fiscal year 2018 operating
budget, approved a service agreement with the Fund’s accounting firm and the Fund’s audit firm, and
extended the contract of the Executive Administrator.
The Committee members represent the governments of the Federated States of Micronesia and the
United States. The next quarterly meeting is scheduled to take place in November 2017.
As of September 30, 2016, assets of the Trust Fund for the People of the Federated States of
Micronesia were valued at $466,938,730.
As provided for under the Compact of Free Association agreements, as amended (U.S. Public Law
108-188), the Trust Fund was established to contribute to the economic advancement and long-term
budgetary self-reliance of the people of the Federated States of Micronesia when annual grant
assistance under the Compact expires after fiscal year 2023.