10 December 1981

Investments of the United Nations Joint Staff Pension Fund A

The General Assembly,

Recalling its resolutions 34/222 of 20 December l979 and 35/216 of 17 December 1980,

1. Takes note with appreciation of the report of the Secretary-General on the investments of the United Nations Joint Staff Pension Fund;

2. Endorses the policy of diversification of the investments of the Fund in developing countries, wherever this serves the interests of the participants and beneficiaries, in accordance with the four criteria of safety, profitability, liquidity and convertibility;

3. Reaffirms its confidence in the Secretary-General as trustee of the assets of the Fund.

B

The General Assembly,

Recalling its resolutions 33/121 B of 19 December 1978, 34/222 B of 20 December 1979 and 35/216 C of 17 December 1980,

Taking into consideration the report of the Joint Staff Pension Board, which recognizes that, in spite of some constraints due to the behaviour of the market, the four requirements have to be complied with,

Concerned at the very low level of the investments made to date in the African States members of the Organization of African Unity,

1. Requests the Secretary-General to continue his consultations with each State member of the Organization of African Unity, the African Development Bank and other financial institutions in Africa with a view to improving the level of investments in member States;

2. Further requests the Secretary-General to report on this question to the General Assembly at its thirty-seventh session.

C

The General Assembly,

Recalling its resolutions 31/197 of 22 December 1976, 32/73 A of 9 December 1977, 33/121 A of 19 December 1978, 34/222 of 20 December 1979 and 35/216 B of 17 December 1980,

Taking note of the report of the Secretary-General on the investments of the United Nations Joint Staff Pension Fund, Observing with satisfaction the increasing pace at which the Fund is making investments in developing countries,

1. Commends the work of the Secretary-General as trustee of the assets of the United Nations Joint Staff Pension Fund;

2. Requests the Secretary-General to continue and accelerate the efforts to diversify the investments of the Fund, and to maintain the consultations initiated with the Investments Committee in order to ensure that the resources which the Fund holds invested in shares of transnational corporations shall be reinvested in developing countries to the greatest extent practicable, subject to observance of the requirements of safety, profitability, liquidity and convertibility, and in conformity with the Regulations and Rules of the Fund;

3. Requests the Secretary-General to report on those efforts to the General Assembly at its thirty-seventh session.