Core Insights - The Curaçao Pension Fund (APC) reported a total return of 6.3% for 2024, down from 8.7% in 2023 [1] - As of the end of 2024, APC's overseas assets accounted for 54% of its portfolio, while local assets made up 46% [1] - The international investment yield was 7.4%, with stock returns reaching 14.5% and bond returns at 2.2% [1] Investment Performance - The domestic investment portfolio return for APC was 4.9%, slightly lower than the 5.2% recorded in 2023 [1] - APC provided local loans to sectors such as tourism and utilities, achieving sustained returns [1] - Large real estate projects further solidified APC's position in the local market [1] Financial Management - APC withdrew 234.5 million Florins from its international investment portfolio for pension payouts and reinvestment [1] - The report highlighted ongoing economic recovery in Curaçao and other parts of the Dutch Caribbean, driven by growth in the accommodation tourism sector, renewable energy investments, and large real estate projects [1] Challenges and Future Developments - APC warned of ongoing challenges, including declining purchasing power, continuous reform pressures in healthcare and pensions, and the repayment of COVID-19 related loans [1] - The establishment of APC Bank is progressing, with operations expected to commence by the end of Q2 2025 [2]