Investments in arms and tobacco.
Increased outsourcing of investments in the Fund’s North American and emerging markets portfolios.
Investment performance was well below the benchmark in the North American and Fixed income portfolios, and it got worse in 2016.
Poor risk management.
Persistent vacancies in key posts.
These are the conclusions of an expert analysis we received today about the UN pension fund’s investment performance. Read here: https://www.ccisua.org/wp-content/uploads/2016/07/Analysis-Pension-Fund-Assets-Management-And-Performance-July-2016-Document.pdf. It also raises important questions that we should all be asking ourselves.
The analysis counters the statement by the Fund’s communications officer, who said:
“Regardless of the information that you may hear, the facts, as being presented to the Board, are that the financial health of the Fund is solid, indeed it is expected that the latest actuarial valuation results will show a positive trend.”
This comes at a time when the Fund is taking steps to establish itself independently from the UN through new financial rules.
Once again, we encourage you to sign the petition to protect our pension fund.