Message from Pedro Guazo on the fixed income portfolio

Our Fund is in a strong financial position and the teams that compose the Office of Investment Management have created a strong culture focused on results. We recognize our double responsibility as employees of the Fund but also as participants, and we put the interest of the Fund above everything in every decision.

Our Fund stands for three important values that define the way we operate as an organization and stem from the United Nations values and principles:

1) we embrace our fiduciary duty to protect the assets of our Fund;

2) we are open and transparent and will always share information in a truthful way;

3) we are accountable to all our stakeholders, and we value productive and respectful dialogue.

In recent weeks we have listened to concerns about the proposal to use external managers for the investment of 65% of the fixed income portfolio, equivalent to 18% of the total portfolio.

We take the concerns from all our stakeholders seriously, and, as such, we have decided to postpone the implementation of the plan for at least 3 months. During this time we will hold several information sessions where we will have the opportunity to clearly explain to all of you the operational situation of the portfolio and the team, together with the rationale behind this proposal, with the firm commitment to listen and respond to all questions, comments, and suggestions.

We will inform you very soon of the schedule of the virtual information sessions to be held in the coming months and in the meantime, please be reassured that each one of us here is working to provide you with peace of mind with regards to your pension.

Pedro Guazo is the Representative of the Secretary-General for the investments of the UNJSPF assets.

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