Audit of the Investment Management Service investment performance measurement system

2 Long term Equity Investments

ANNEX II Scope of the investment audit

Total administrative, investment and audit costs

(c) What are the steps in undertaking an investment from plans to operations and how can these steps be facilitated so that potential investors do not lose interest?

Total investment costs C. Audit costs

A total of 233 representatives from 91 IPAs were attending this week's WAIPA conference.

An accounting firm, with expertise in portfolio management and investment accounting systems, would review and evaluate both systems, especially with respect to internal control procedures. DOCUMENT A 50 7 Add.2

3. The Investment Management Service has two in house systems (a) a Portfolio Management System, which was installed in 1993 and (b) the Investment Control and Accounting System, which provides automated accounting for the transaction activities of the investments of the Pension Fund.

The sources of the invested funds were as follows (in millions of United States dollars)

In this connection, the Committee was informed by the representative of the Secretary General for the investments of the Fund that the examination of portfolio management would be most appropriately carried out by an outside firm with demonstrated investment accounting expertise.

Sources World Bank, World Bank Development Indicators 2005 (GDP per capita) and UNCTAD, UNCTAD Handbook of Statistics, 2004 (inward FDI).

The notional pension capital accrues an interest like in the case of the funded pension scheme however, in contrast to the funded pension scheme where the growth of the capital depends on the return on the investment, the growth of the first tier capital depends on the wage growth in the country.

The Good Governance in Investment Promotion programme, the linkages programme, the Invest in Peace initiatives and the Blue Books were all designed to help countries in their efforts to implement the IPRs' recommendations.

Inputs (resource estimates in euros)

IPMT calculates the amount of a payment of an annuity going towards interest.

PPMT calculates the amount of a payment of an annuity going towards principal.

Investment in China s manufacturing sector was low in December, but infrastructure investment improved slightly. As such, fixed asset investment for the month will remain the same as that in November.

Investors did not provide capital for infrastructure development, which made it necessary for Governments to assume that responsibility.

Investment can sustainably drive growth only up to the point when returns decline dramatically. In the case of public sector investment, that means that the present value of the increment to the future GDP path (using a social discount rate) is greater than the investment itself.

Cumulative growth rate of fixed asset investment in December is forecast to be at 7.2 , unchanged from the previous month, but lower than that a year ago.

Invest, invest, invest.

The second tier of the pension system the compulsory funded State pension scheme is based on the principle of investing individual social insurance contribution payments, providing that part of the person's social insurance contribution payments for old age pensions will be invested.

(Millions of Singapore dollars percentage of locally controlled companies in parentheses)

That improvement includes a substantial contribution by investment in job creation, which will have accounted for 25.4 per cent of total investment, compared to 23.5 per cent during the Seventh Plan.

We need to find more money for game design.

Calculates the interest paid on a given period of an investment.

Direct investments (public sector in D1,000)

The Operations Section is responsible for the back office operations and accounting of investment transactions.

According to Chinese investors' estimates, the total value of the project is expected to be 3 billion roubles.

(8) As regards long term equity investment, it is required to separately list the beginning balance, ending balance and current and accumulative amounts of unrecognized investment losses of each invested entity.

The expected output would be the report for the tenth session of the Conference, as well as an input to the World Investment Report 1999

The estimated investment cost for the Programme is 3.5 million dinars.

Trends in public and private investment over the various Plans

1. The scope of the investment audit should

Joint Social Investment

The EFSI will be equipped with 5 billion in start up capital, produced through the revaluation of existing EIB assets, and will be backed by 16 billion in guarantees from the European Commission. The fund is expected to leverage this to acquire roughly 63 billion in loans, with private investors subsequently contributing some 5 for every euro lent bringing total investment to the 315 billion target.

Note SRF indicators 2.1.1 and 2.2.1 relate only to UNCDF investments, whereas 2.3.1 relates to both UNCDF and UNDP investments.

At the same time, the demand for new investment opportunities exists in the financial markets, particularly from socially responsible investors.

4. The Board recommends that UNDP monitor returns on investments against prevailing market rates (para. 45).

The Board expressed its appreciation to the representative of the Secretary General, to the Chairman and members of the Investments Committee, and to the staff of the Investment Management Service and the investment advisers, for the good investment performance of the Fund.

Box 3 UNCTAD s Investment Policy Review (IPR)

The medium term fiscal objectives aim to enhance domestic resource mobilization for the social and poverty programmes and for investment in infrastructure.

Since the investment activities do not involve pension secretariat services, the United Nations would not absorb any of the costs of investment audits.

Discussions had been held on issues such as a possible multilateral framework on investment and its development dimension, export processing zones, targeting investors, locational decisions of investors, outward investment promotion measures and investment incentives.