Investment Policy

HOW WE INVEST

Investment Policy

The management of the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF) is the fiduciary responsibility of the Secretary-General (SG) of the United Nations, in consultation with an Investments Committee, and in light of the observations and suggestions, made from time to time, by the Pension Board on the investment policy.

The Representative of the Secretary-General (RSG) has been delegated the responsibility and authority to act on behalf of the SG in all matters involving the fiduciary duties of the SG relating to the investment of the assets of the Fund, including representing the SG at meetings of the Investments Committee of the UNJSPF, the UNJSPF Board, and other meetings where investment matters pertaining to the UNJSPF are being discussed. The RSG is assisted by the Office of Investment Management (OIM). Investments must, at the time of initial review, meet the criteria of safety, profitability, liquidity and convertibility.

The investments are carried out within the framework of an Investment Policy Statement (IPS) which is usually updated comprehensively subsequent to the completion of an Asset-Liability Management (ALM) study, conducted once every four years. The Investment Policy Statement was last updated in 2016.