UN Investment Committee to Meet in Accra

Ghana will be the venue of the 169th session of the United Nations Investments Committee meeting scheduled for Accra from Monday February 18-19, 2002.

The 2-day meeting being held at the instance of its Ghanaian Chairman, Nana Wereko Ampen II, known in private life as Mr. E.N. Omaboe and with the support of the Government of Ghana is the first to be held in Africa.

President J.A. Kufuor and his Economic Management Team will meet members of the committee and discuss matters related to the investment of the assets of the Fund whilst here.

Representatives of the Secretary-General, the Secretary of the UN Pensions Board and representatives of Fiduciary Trust Company International of USA, BNP Paribas of France, Asset Management of Japan and Pension Consulting Alliance of USA are also attending the meeting.

The Investment Committee advises the UN Secretary-General who has fiduciary responsibility of the United Nations Joint Staff Pension Fund (UNJSPF) on the investment of the assets of the Fund. It currently covers 19 member organisations and administers to over 125,000 participants and beneficiaries working and residing world-wide.

Established by the UN General Assembly to provide retirement, death, disability and related benefits for the staff of the United Nations and other organisations admitted to the membership of the Fund, it had as at December 31st, 2001, the market value assets of US$21.8 billion.

With a current membership of nine and three ad hoc members from all regions of the World the Committee, whose members are appointed by the Secretary General subject to confirmation by the General Assembly, provides advice to the Secretary General on investment strategy and the Funds portfolio.

Ghana is among the current members of Argentina, France, Germany, Japan, Mexico, Saudi Arabia, Singapore, Switzerland, United Kingdom and the United States of America.

Nana Wereko Ampem II, who was first appointed Chairman of the Committee on January 1, 1997 had his appointment renewed last December for a further three year period by the General Assembly and the Secretary-General.