The Board of Trustees of the FSM Trust Fund pose with Maggie Ralbovsky. Photo courtesy of FSMIS
The Federated States of Micronesia's Trust Fund had a total balance of $284.2 million as of Jan. 31, 2020, compared to $266.9 million reported at the end of fiscal 2019, according to Maggie Ralbovsky, FSM's investment advisor and chartered financial analyst from Wilshire Associates. This represents a fiscal-year-to-date return of 5 percent. Since 2011, the FSM Trust Fund’s investment gains has reached approximately $82 million. The rapid increase in the value of the FSM Trust Fund reflects the strong commitments from the executive and legislative branches to ensure the long-term financial prosperity of the FSM, according to a press release from FSM Information Service. "While we are pleased with the investment results, we are mindful of the challenges and risks we are facing from multiple fronts, including the ongoing disruption caused by the Covid-19 virus, and long-term disruptions from climate change induced events,” said Iso Ihlen Joseph, chairman of the board of trustees.