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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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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 United Nations Joint Staff Pension Fund:

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 2019, the value of the assets of the UNJSPF stood at US$ 70 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).

369 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.

31/12/2019

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% 51.914 <10% 7.26
Fixed income 10-50% 27.93 <10% 0.07
Private equity 0 0 <10% 4.74
Property 0 0 <10% 6.92
Infrastructure 0 0 <10% 0.19
Commodities 0 0 <10% 0.09
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 <10% 0.02
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 0.27 0 0
Money market instruments <10% 0.6 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]

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

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.


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.

90 Developed Markets
8 Emerging Markets
2 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:

 

Regions/Countries (as of 31st of December 2018)

 

Africa

 Angola

 Botswana

 Cameroon

 Chad

 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

 Mexico

 Peru

 Puerto Rico*

 Suriname

 Trinidad and Tobago

 United States of America

 Uruguay

 Venezuela, Bolivarian Republic of

 

Asia and the Pacific

 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

 Armenia

 Austria

 Azerbaijan

 Belgium

 Bosnia and Herzegovina

 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

 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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