Who We Are

The Office of Investment Management (OIM) is responsible for managing the investments for the United Nations Joint Staff Pension Fund, a fund established by the General Assembly of the United Nations to provide retirement, death, disability and related benefits for the staff of the United Nations and the other organizations admitted to membership in the Fund.

Investments at A Glance

The Fund invests in various asset classes such as global public equities, bonds, real estates, private equities, infrastructure, timber and agricultural lands and cash and short-term securities. The Fund mitigates risks through diversification in asset classes, geographical regions/countries, currencies, sector/industry, securities, investment strategies, and market capitalizations.

How We Invest

The Representative of the Secretary-General (RSG) has been delegated the responsibility and authority to act on behalf of the Secretary General in all matters relating to the investment of the assets of the Fund. 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.

Sustainable Investing

As a signatory to the United Nations’ Principles of Responsible Investing or PRI since 2006, the Office of Investment Management (OIM) incorporates Environmental, Social, and Governance (ESG) considerations throughout the investment decision-making process for all asset classes.

Risk Management

Identifying, measuring and managing all aspects of risks to which the Fund is exposed is the primary responsibility of our Risk Management and Compliance department, along with implementing key compliance measures such as adequate monitoring and control processes covering the Fund’s investments.

Long-term Real Return

INVESTMENTS AT A GLANCE

Long-term Real Return

(As of 30 September 2019)

*As described in paragraph 5 of the Investment Policy Statement (IPS): “The Fund’s current ‘Long-Term Investment Objective’ is to meet or exceed a 3.5% real rate of return (net of inflation, as measured by the US Consumer Price Index) in USD dollar terms annualized over the long term (15 years and longer)”.

	1 Year	2 Years	3 Years	5 Years	10 Years	15 Years	20 Years	25 Years	50 Years
Nominal Return (%)	3.8	5.6	8.0	5.8	6.8	6.7	6.0	7.3	8.5
US CPI (%)	1.7	2.0	2.1	1.5	1.7	2.0	2.1	2.2	3.9
Real Return (Inf. Adj.) (%)	2.0	3.5	5.8	4.2	5.0	4.6	3.8	5.0	4.3
Excess Return vs. 3.5%	-1.4	0.0	2.2	0.7	1.4	1.1	0.3	1.5	0.8

Note:
Nominal returns are annualized.
Nominal returns and the US-CPI are rounded off to the single decimal point.
Real returns are calculated using a geometric difference.
Excess of 3.5% is calculated using a geometric difference.
Quarterly numbers are provided with one quarter lag due to delays in obtaining valuations for Alternative Investments, Real Estate, and other Private Markets Investments.
Year-end numbers are up-to-date and usually available by end of April the following year.
(Data from independent Master Record Keeper)