Tuesday 12 December 2017

Angolan Sovereign Fund's net result reaches USD 44 million

Angolan Sovereign Fund's net result reaches USD 44 million
(Angola Press(En) 09/21/17)

Luanda - At least USD 44 million is the positive net result obtained by the Sovereign Development Fund of Angola (FSDEA) in the last fiscal year 2016.

According to a press release from FSDEA that ANGOP had access to Wednesday, with this result, the institution reaches profitability for the first time in less than four years since its operations began in October 2012.

The Sovereign Fund also states that the profits made are the result of a prudent investment policy and the positive return on investments in agriculture and infrastructure.

The document also states that during the review period the Angolan Sovereign Fund also recorded a reduction in operating expenses of 40 percent compared to 2015.

Until December 31, 2016, says the entity, the investment portfolio presented relevant data such as "the total assets that increase from USD 4.75 billion in 2015 to USD 4.99 billion".

Fifty-eight percent of the total portfolio is dedicated to assets in Sub-Saharan Africa, 10% to North America, 12% to Europe and 20% to the rest of the world.

Net investments total USD 22 million, while net fixed income investments are valued at USD 1.1 billion, accounting for 22% of the total portfolio.

In the note, the FSDEA points out that the major gains from the seven private equity investment funds are recorded in the Fund for Agriculture USD 0.11 billion and the Infrastructure Fund USD 0.18 billion, which offset the capital depreciation of USD 0.03 billion in the remaining five funds.

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