The guiding principles and policies governing United Nations are applicable to all United Nations offices holding responsibility for investments.

So the very definition to say invest in Africa is a no go.

(c) Promote public investments in their territories and supervise their proper implementation

The efforts of national Governments must be supported by a favourable international economic environment in which capital flows, investment and trade could flourish.

In this connection, the Committee was informed by the representative of the Secretary General for the investments of the Fund that the examination of portfolio management would be most appropriately carried out by an outside firm with demonstrated investment accounting expertise.

Second, the Chinese production mix does not correspond to domestic demand, and investment in long products has outpaced demand growth.

Such firms, with long term corporate strategies to expand abroad, are therefore suitable targets for investment promotion, particularly by large host countries.

Limited access to finance and cultural differences also hinder OFDI by SMEs, as does difficulty in finding suitable joint venture partners.

One answer lies in the fact that China s FDI policy over the past 30 years has crowded out Chinese investors from high return projects, forcing them to settle for less lucrative projects. But there are still potential investors who cannot find any suitable investment opportunities in China, generating excess resources, which in turn are invested in US government securities.

(5) labour peace, since it offers a propitious environment for investment and development.

In that regard, the Bank was spearheading efforts to develop an appropriate investment framework for clean energy and sustainable development and identify pragmatic investment and financing options.

Assesses the investment performance measurement process and reporting system at the Investment Management Service and the appropriateness of benchmarking and investment performance reporting in conformity with best industry practices determines the adequacy and effectiveness of the internal controls.

A combination of technical cooperation, financing investment and other inputs would be necessary.

A combination of technical cooperation, financing, investment and other inputs would be required.

What are the likely implications of including portfolio investment under a BIT in terms of investment protection and, where applicable, in terms of admission of investment?

The investment officer will conduct research to recommend appropriate alternative asset classes for the Fund, plan appropriate investment deployment, initiate and lead the selection of external alternative managers, and monitor and evaluate those managers in order to ensure that the alternative investments add value to the Fund's overall investments in terms of both return enhancement and diversification.

Investments will be made subject to programme country demand, matched by adequate funding, and fulfillment of basic investment criteria.

2 Long term Equity Investments

In collaboration with local partners, local financial authorities and investors, identification of the most suitable and adapted investment instruments and means of securitisation, such as bonds or promissory notes backed by loan portfolios.

The United Nations system for development cooperation required adequate, predictable and stable funding, and a better balance must be struck between core and non core contributions.

Portfolio management

Joint Social Investment

Privatizations had been the main engine behind the FDI flows, though the dependence upon too few investing countries had not permitted proper differentiation.

Article 6 The State shall protect the lawful rights and interests of the persons who invest in the exploitation of the coal resources according to law.

Furthermore, SMEs are generally unfamiliar with the legal system and regulation that investments involve, and the policy environment is rarely adapted to encourage FDI by SMEs.

39. Of the three forms of private capital flow (loans, FDI and portfolio equity), FDI and portfolio equity investments are more relevant in the present context of African economies.

(b) In order to establish accountability, the Investment Management Service should either (i) ensure that the fixed income investment officer acts with greater independence in the management of the portfolio or (ii) consider outsourcing the fixed income portfolio while maintaining the investment officer to monitor the performance of the outsourced portfolio (AS2003 801 02 011)

This pattern, however, does not apply to most services investments.

It was thus clear that building and maintaining appropriate conditions for investment, both at the national and international levels, was a task for all.

14. On the issue of insurance coverage for the Fund s investments in equities,8 the Pension Board noted that the Board of Auditors had considered that the assets of the Fund had not been adequately protected and had recommended that the contracts with the Fund s custodians should be reviewed, with a view to providing adequate insurance coverage.

The Joint Social Investment Programme

As regards investment incentives, it was only when countries had met a certain number of basic criteria in terms of a healthy economic environment and an adequate legal investment framework and infrastructure that they could attract increased FDI, and incentives alone were not sufficient.

Invest, invest, invest.

(d) In view of the size and diversification of the investment portfolio, the Investment Management Service should increase the number of investment managers or review the possibility of hiring additional discretionary investment advisers (AS2001 95 1 14)

So defense investment is also investment in security and stability, in diplomacy and cooperation, and in technology and innovation. It is an investment in a safer and more prosperous future for our own countries and for the rest of the world.

Against this backdrop, the scale of FDI to Africa hardly appears surprising and it is perhaps just as appropriate to ask how Africa has been able to attract so much FDI as why it has attracted so little.

(c) The allocation of bonds and other non equity investments, including determination of the nature, term and credit rating of appropriate bonds portfolios.

At the time of entering into the contracts with the custodians, the Secretary General had obtained the opinion of outside counsel with expertise in custody and advisory investment contracts as to the appropriate level of insurance for this type of risk.

The eligibility criteria for the consultative poll are the same as those applied in the Access Poll undertaken in 2002, with the exception of the residency requirement, which has been reduced.8

The Chief of the Risk and Compliance Section will develop a comprehensive risk monitoring mechanism for the investments of the Fund, apply and oversee the process, develop a methodology for a risk and performance analysis appropriate for the investments of the Fund and oversee the reporting.

In this regard, UNCTAD was encouraged to offer greater support to the OECD NEPAD Investment Initiative to improve the investment climate in African countries so as to promote both domestic and foreign direct investment.

The remainder of the balance, consisting of donor contributions, was tied up in short term investments, the majority of which were placed in an investment pool in order to increase liquidity.

Article 35Where part of the held to maturity investment is sold or the re classified amount thereof is considerably large, and if it does not fall within any of the exceptions as described in Article 16, so that the remainder of the said investment is no longer suitable to be classified as a held to maturity investment, the enterprise shall re classify the remainder of the said investment as a sellable financial asset, and shall make subsequent measurement on it according to its fair value.

Investments of the United Nations Joint Staff Pension Fund

South South and international cooperation in trade and investment