FC 94/6c (i)
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FINANCE COMMITTEE
Report on Investments - 1999
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Regular Programme and Trust
Funds
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1. This document is submitted to the Finance Committee for information, in accordance
with Financial Regulation IX on the same basis as documents FC 94/6c (ii) and (iii), which
contain statements of the investments held for the Compensation Plan Reserve fund (CPRF)
and the Separation Payments Scheme (SPS).
2. The Investments Policy Guidelines require that the Organization invests excess funds
for the Regular Programme and Trust Funds. The FAO Advisory Committee on Investments at
its Twenty-fourth Session (18 May 1998) concluded that the Organization should move
management of its short-term assets to the Northern Trust Company for the purposes of
investing in commingled funds ("Northern Institutional Funds"). The
Director-General endorsed the proposed action and it was implemented. These investments
returned an average of some 5% net of fees during the period. At 31 December 1999, the
balance on the fund was US$193,842,236 (market value US$193,842,236).