Page 38 - Bulletin, Vol.81 No.1, May 2022

2/ An emerging market bond exchange-traded fund (ETF) comprises fixed income debt issues
from countries with developing economies. These include government bonds and corporate
bonds in Asia, Latin America, Africa and elsewhere. Emerging market bonds typically offer
higher returns than traditional bonds for two primary reasons: They tend to be riskier than bonds
from more developed countries, and developing countries tend to grow rapidly.

3/ https://www.unjspf.org/the-70th-session-of-the-un-pension-board-concludes-
highlighting-strong-performance-of-pension-administration-and-investments/

4/ https://oim.unjspf.org/how-we-invest/investment-policy/

THE 71ST PENSION BOARD SESSION CONCLUDES

13 April 2022

The 71st session of the UN Joint Staff Pension Board held on 11-12 April 2022 in a
virtual setting has just concluded, and the following topics were touched upon.

Update on the Fund’s performance
Ms. Rosemarie McClean, Chief Executive of Pension Administration, highlighted the
performance of Pension Administration as well as achievements in the implementation
of the 2021-2023 Pension Administration (C.A.R.E.) Strategy in the first quarter of 2022.
The benchmark, measuring processing of initial pension cases within 15 business days,
remained above 90% from January to March 2022, in spite of the continuous high
volume of separations.

Mr. Pedro Guazo, Representative of the Secretary-General for the investment of the
UNJSPF assets, informed the Pension Board that, despite the multiple crises affecting
the financial markets, the value of the assets at the end of March 2022 stood at USD 86
billion, down from USD 91 billion as at 31 December 2021 but up from USD 63 billion
two years ago when Covid started.

Mr. Pedro Guazo also added that the Office of Investment Management would be
providing additional information sessions concerning management of the fixed income
portfolio using external managers and would be holding off implementing this initiative
for three months until these had been completed.

36 AAFI-AFICS BULLETIN, Vol. 81 No. 1, 2022-05