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Annual report 2003 - part 2

junio 2004
In 2003, IFAD celebrated its 25th anniversary. The Governing Council and other events during the year highlighted IFAD’s growth over the past quarter century into a mature development institution focused on eradicating rural poverty. The timely and successful completion of the Sixth Replenishment at the 2003 Council underlined the commitment of Member States to IFAD’s mission. The Governing Council also agreed to initiatives to strengthen the institution in the coming years.

Annual report 2003 - part 3

junio 2004
IFAD’s current investment policy was adopted in December 2001. The policy allocates five per cent of investments in cash, 44 per cent in government bonds, 23 per cent in diversified fixed-interest instruments, 18 per cent in inflation-indexed bonds and ten per cent in equities. These allocations were implemented with the exception of the asset class for inflation-indexed bonds until June 2003, when two such investments were made, bringing the class to some ten per cent of the overall portfolio. The remaining unfunded amount was held in the government bonds portfolio and, to a lesser extent, in the internally managed portfolio.

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