As at # arch # the normal reporting date used in the reports of the representative of the Secretary-General to the Pension Board- the market value of the assets of the Fund stood at $ # million, as against $ # million a year earlier, a decline of # per cent. However, the total investment return, which takes into account timing of cash flow for the same period, was negative # per cent, representing a “real” or inflation-adjusted return of negative # per cent
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