A/RES/61/240 it thereon at its sixty-third session as part of the review by the Board, and invites the Board to explore the possibility of further diversifying banking transactions; 7. Notes that the Board intends to keep the possible provision for the purchase of additional years of contributory service under periodic review; 8. Also notes that the Board decided to maintain both the current system for establishing benefits in respect of locally recruited staff in the Professional category and the methodology currently used in the determination of final average remuneration for staff in the General Service category; both issues will continue to be monitored by the Fund secretariat; 9. Takes note of the other matters dealt with in the report of the Board; 10. Calls upon the Investment Management Service to expeditiously implement the recommendations of the Board of Auditors with regard to the determination of the level of tolerance for risk, improvement in internal review of performance and the trade order management system; 11. Requests that all vacant Professional posts, including the five new posts in the Investment Management Service endorsed by the present resolution, be expeditiously filled; VIII Investments of the United Nations Joint Staff Pension Fund 1. Takes note of the report of the Secretary-General on the investments of the United Nations Joint Staff Pension Fund2 and the observations of the United Nations Joint Staff Pension Board, as set out in its report;1 2. Notes the increase in the market value of the assets of the Fund and the positive returns achieved during the biennium and, in particular, the 4.3 per cent annualized real rate of return over the 46-year period ending on 31 March 2006; Stresses the need for a comprehensive asset-liability management study, 3. including assessment of financial risks and recommendations on asset allocation, and a study of the Fund’s governance, with special regard to the relationship between the Fund secretariat and the Investment Management Service, the results thereof to be provided to the Board for consideration; Notes that the Board endorsed the intention of the representative of the 4. Secretary-General for the investments of the fund to manage the North American equities portfolio in the passive mode using the current benchmark indices; Requests the Secretary-General to fully adhere to the Financial Rules and 5. Regulations of the United Nations 6 and General Assembly resolutions on procurement when procuring services for the passive management and report to the Board thereon at its next session; Notes that the Board encouraged the Investment Management Service of 6. the Fund to adhere to the principles of the Global Compact to the extent possible without compromising the four established investment criteria of safety, profitability, liquidity and convertibility, and urged the Investment Management Service to continue its efforts to collect tax refunds from several Member States; _______________ 6 6 ST/SGB/2003/7.