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United Nations Joint Staff Pension Fund

PRI reporting framework 2019

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

The UNJSPF Secretariat:

The United Nations Joint Staff Pension Fund was established in 1949, by a resolution of the General Assembly, to provide retirement, death, disability and related benefits for staff upon cessation of their services with the United Nations, under Regulations that, since then, have been amended at various times.

https://www.unjspf.org/about-the-fund/

The Office of Investment Management:

The Representative of the Secretary-General (RSG), reports directly to the Secretary-General. The Secretary-General was entrusted with the fiduciary responsibility for investment of the assets of the UNJSPF, in accordance with Article 19 of the Regulations of the Fund. The Secretary-General has delegated his fiduciary responsibility for the UNJSPF to the RSG. The RSG is supported by the staff of the Office of Investment Management, and she is advised by the Investments Committee. Additional resources include consultants and nondiscretionary advisors.The Office of Investment Management (OIM) works to ensure that the United Nations Joint Staff Pension Fund can fully discharge our obligation to provide retirement, death, disability and related benefits to the over 205,000 active and retired staff of the UN and 22 other member organizations of the Fund.

OIM strives to ensure that the assets of the Fund are managed prudently and optimally, and achieve our long term investment return objective, in order to ensure the financial sustainability of the Fund. The investment professionals of OIM – who come from over 30 countries – seek investment opportunities globally across a wide range of public and private market asset classes. Our investments are spread over more than 100 countries, and 85% of our assets are managed internally. Investments must, at the time of initial review, meet the criteria of safety, profitability, liquidity and convertibility. As of 31st of December 2018, the value of the assets of the UNJSPF stood at US$ 60.7 billion dollars.

https://oim.unjspf.org/who-we-are/our-purpose/

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

284 FTE

02.4. Additional information. [Optional]

Office of the RSG

The Office of the RSG provides overall leadership, direction and management of OIM activities. The Office ensures that all investment activities are coherently aligned to safeguard the fiduciary responsibilities, support the financial objectives and maintain the sustainability of the Fund. The Representative of the Secretary-General (RSG) leads the investment operations; approves relevant policies and strategies; oversees the work of the Office; and sets forth the framework under which OIM’s functional areas establish their strategies and priorities to ensure that OIM carries out its mandate. The RSG is supported by the Director and other specialized staff.

Investments

The Investments Group is responsible for achieving the optimal investment return for the Fund, avoiding undue risk to meet the Fund’s long term investment return objectives, as well as meeting or exceeding the Policy Benchmark over the short-term. It consists of nine teams; North American Equity, European Equity, Asia Pacific Equity, Global Emerging Markets Equity, Real Assets, Alternative Investments, Trade Execution, External Managers, as well as Fixed Income & Treasury.

Risk and Compliance

The Risk and Compliance Group is responsible for identifying, measuring and monitoring all aspects of market and operational risks to which the Fund is exposed. In addition, it is mandated to implement adequate monitoring and control processes covering the Fund’s investments to ensure compliance with all our policies and guidelines.

Operations and Information Systems

The Operations and Information Systems Group is responsible for ensuring the security of the Fund’s investments enhancing business applications and information systems infrastructure, and supporting the front-to-back investment operation processes.

Finance and Accounting

The Finance and Accounting team is responsible for all aspects of investment accounting, preparation of financial statements, and budget processes. It has a dual reporting line to the Chief Operation Officer and the Chief Financial Officer.

Other Information 

https://oim.unjspf.org/who-we-are/our-purpose/

https://oim.unjspf.org/who-we-are/our-governance/

https://oim.unjspf.org/who-we-are/our-leadership/

https://oim.unjspf.org/who-we-are/our-member-organizations/

 

 

 

 

 

 

 


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

The UNJSPF’s Investment Policy Statement (IPS) addresses environmental, social and governance (ESG) concerns by explicitly prohibiting investments in the tobacco and armaments sectors, while it does not mandate divestment in other areas. The Fund acknowledges its responsibility to society as part of a global organization committed to social progress by being a founding signatory to the Principles for Responsible Investment (PRI). The fund is also associated with the United Nations Global Compact (UNGC) and the UN Environment Program (UNEP) Finance Initiative.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

The Office of Investment Management (OIM) discloses asset and return breakdown publicly on its official website. Please see below links to various reported information:

https://oim.unjspf.org/investments-at-glance/fund-investments-by-asset-class/

https://oim.unjspf.org/investments-at-glance/geographical-diversification/

https://oim.unjspf.org/investments-at-glance/list-of-countries/

https://oim.unjspf.org/investments-at-glance/internally-managed-assets/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/market-value-of-assets/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/performance-versus-benchmark/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/long-term-real-return/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/yearly-performance/

 


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity >50% 52.34 <10% 4.5
Fixed income 10-50% 26.53 0 0
Private equity 0 0 <10% 4.36
Property 0 0 <10% 6.87
Infrastructure 0 0 <10% 0.22
Commodities 0 0 <10% 0.17
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 4.99 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The Office of Investment Management (OIM) discloses asset and return breakdown publicly on its official website. Please see below links to various reported information:

https://oim.unjspf.org/investments-at-glance/fund-investments-by-asset-class/

https://oim.unjspf.org/investments-at-glance/geographical-diversification/

https://oim.unjspf.org/investments-at-glance/list-of-countries/

https://oim.unjspf.org/investments-at-glance/internally-managed-assets/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/market-value-of-assets/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/performance-versus-benchmark/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/long-term-real-return/

https://oim.unjspf.org/investments-at-glance/historical-fund-performance/yearly-performance/

 


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

91.6 Developed Markets
8.0 Emerging Markets
0.4 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

Pursuant to General Assembly Resolutions 31/197 in 1976 and 32/73 B in 1977, the General Assembly requests the Secretary-General to redouble his efforts in consultation with the Investments Committee, to ensure that, subject to careful observance of the requirements of safety, profitability, liquidity and convertibility, and in strict conformity with the Regulations of the UNJSPF, a larger proportion of the investment of the resources of the Fund is made in developing countries.

The Office of Investment Management (OIM) invests globally in different countries and currencies.

List of countries and regions* in which OIM has investments:

Africa (as of 31 Dec. 2017)

Angola
Botswana
Cameroon
Chad
Côte D'Ivoire
Ethiopia
Gabon
Ghana
Kenya
Malawi
Mauritius
Mozambique
Namibia
Nigeria
Rwanda
Senegal
South Africa
Togo
Uganda
United Republic of Tanzania
Zambia
Zimbabwe

Americas

Argentina
Bermuda*
Brazil
Canada
Cayman Islands*
Chile
Colombia
Dominican Republic
El Salvador
Grenada
Jamaica
Mexico
Peru
Puerto Rico*
Suriname
Trinidad and Tobago
United States of America
Uruguay
Venezuela, Bolivarian Republic of

Asia and the Pacific (as of 31 Dec. 2017)

Australia
Bangladesh
China
India
Indonesia
Israel
Japan
Kazakhstan
Malaysia
Marshall Islands
New Zealand
Philippines
Republic of Korea
Singapore
Sri Lanka
Taiwan*, Province of China
Thailand
Viet Nam

Europe and Central Asia (as of 31 Dec. 2017)

Armenia
Austria
Azerbaijan
Belarus
Belgium
Bosnia and Herzegovina
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Georgia
Germany
Greece
Guernsey*
Hungary
Ireland
Italy
Jersey*
Latvia
Luxembourg
Netherlands
Norway
Poland
Portugal
Romania
Russian Federation
Serbia
Slovenia
Spain
Sweden
Switzerland
Turkey
Ukraine
United Kingdom of Great Britain and Northern Ireland

Middle East (as of 31 Dec. 2017)

Bahrain
Egypt
Iraq
Jordan
Kuwait
Morocco
Oman
Qatar
Saudi Arabia
Tunisia
United Arab Emirates

https://oim.unjspf.org/investments-at-glance/list-of-countries/


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