Investments of the United Nations Joint Staff Pension Fund

INVESTMENTS OF THE UNITED NATIONS JOINT STAFF PENSION FUND

Diversification of investments of the United Nations Joint Staff Pension Fund

The Government to provide the resources for the sectoral, joint and institutional funds for boosting federal investment in experimental research and development (IDE).

57. The self insurance fund balance is invested by the United Nations Treasury based upon instructions from the Insurance Section.

United Nations Joint Staff Pension Fund Administrative ex penses of UNJSPF (A 52 278) Membership of the Investments Committee

Or the deposits can be investments in D.E. Shaw s funds and the loans can be the complex derivatives that make up D.E. Shaw s portfolio.

(e) Report of the Secretary General on the investments of the United Nations Joint Staff Pension Fund (A C.5 53 18).

4. At the 18th meeting, on 2 November, the Chairman of the United Nations Joint Staff Pension Board introduced the report of the Board, and the representative of the Secretary General for the investments of the Fund introduced the report of the Secretary General on the investments of the Fund (see A C.5 53 SR.18).

IV. INVESTMENTS OF THE FUND . 48 79 14

Investments will be made subject to programme country demand, matched by adequate funding, and fulfillment of basic investment criteria.

8. The liberalization of cross border flows had led to the internationalization of investments by institutional funds.

H. United Nations Capital Development Fund

Figure 18 Cost of management of the Fund's portfolio by the Investment Management Service

1. Executive session on the United Nations Joint Staff Pension Fund Administrative expenses of UNJSPF (A 52 278) Membership of the Investments Committee

113. UNIFEM has been promoting women s participation in the trade and investment sectors.

70. This involves activities related to the use of the mechanism of investment funds (country funds, venture capital funds or specific sectoral investment funds) to attract foreign investment flows in least developed countries.

4. Other capital providers Capital providers other than commercial banks and international financial institutions may include institutional investors such as insurance companies, mutual funds, pension funds or investment funds.

The Board reports to the General Assembly on the operations of the Fund and on the investment of its assets.

The United Nations and the Foundation understand that funds received by the United Nations from the Foundation are intended to supplement the regular, assessed or voluntary funded programmes of the United Nations, its departments, funds, programmes and specialized agencies.

1. Takes note of the report of the Secretary General on the investments of the United Nations Joint Staff Pension Fund,3 as well as the observations of the United Nations Joint Staff Pension Board thereon in its report 6

Expenses incurred by the Board in the administration of the Fund principally the cost of its central secretariat at United Nations Headquarters in New York and the expenses of managing its investments are met by the Fund.

Item 5 United Nations Capital Development Fund

14. On the issue of insurance coverage for the Fund s investments in equities,8 the Pension Board noted that the Board of Auditors had considered that the assets of the Fund had not been adequately protected and had recommended that the contracts with the Fund s custodians should be reviewed, with a view to providing adequate insurance coverage.

Conditions for the creation of investment funds in LDCs

Other complementary sources of equity capital may include investment funds and other so called institutional investors such as insurance companies, mutual funds or pension funds.

Income derived from investments, other than trust fund investments, shall be credited to the general fund as miscellaneous income.

Three main types of credit funds have been established in the Russian Federation, namely (i) those co financed by national and international private investors, (ii) federally funded schemes and (iii) micro credit schemes.

58 279. Report of the Office of Internal Oversight Services on the audit of the Investment Management Service of the United Nations Joint Staff Pension Fund

In 2004, the mandate of UNCDF as a United Nations fund for investing in least developed countries (LDCs) was strongly reconfirmed in the wake of an external independent impact assessment.

The Committee was informed, upon enquiry, that after service health insurance reserve funds would initially be invested in short term securities and cash flow requirements would be developed discussions would also be initiated with the United Nations Joint Staff Pension Fund regarding the potential use of the investment management services of the Pension Fund for an after service health insurance reserve.

Fundline includes portfolio investment funds, private equity funds and companies, venture capital funds, mutual funds and other equity vehicles.

The rules and regulations of the United Nations Joint Staff Pension Fund provide that the investment of the assets of the Fund will be decided upon by the Secretary General, who has delegated fiduciary responsibility to a designated representative.

It is assumed that 4.3 per cent of the Fund's assets are invested in small capitalization funds.

Projects approved for funding by the United Nations Foundation, Inc.

Reform in United Nations development agencies, such as UNDP, the United Nations Children apos s Fund (UNICEF), the United Nations Population Fund (UNFPA) and the United Nations Development Fund for Women (UNIFEM), was essential to bring about the efficient use of scarce resources at the country level.

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.

In 2004, the United Nations Consolidated Appeal for Eritrea was less than 60 per cent funded, and the 2005 Consolidated Appeal remains largely unfunded.

In addition to OHCHR and HRU, the United Nations Children's Fund (UNICEF), the United Nations Development Fund for Women (UNIFEM), UNDP and the United Nations Population Fund (UNFPA) have also provided significant technical and financial support to the process.

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.

1. Takes note of the report of the Secretary General on the investments of the United Nations Joint Staff Pension Fund, as well as the observations of the United Nations Joint Staff Pension Board thereon in its report a

19 The internal audit charter was drafted jointly by the secretariat of the United Nations Joint Staff Pension Fund and OIOS and agreed to by the representative of the Secretary General for the Fund's investments.

All payments made in reimbursement of sums allocated from the Fund's resources and income from investment of its capital are added to its resources.

The global programme will work with the United Nations Capital Development Fund (UNCDF) to expand inclusive financial sectors that serve the poor.

More than 50 funds invest in microfinance.