Thursday 21, December 2017 by Jessica Combes

Fundo Soberano de Angola announces investment updates for Q3 2017


The Fundo Soberano de Angola (FSDEA), Angola’s sovereign wealth fund, announced its third quarter investment update for 2017 that covers the period from 1 July to 30 September 2017.

The third quarter of 2017 witnessed a profit of $40.5 million, mainly generated by a good performance of investments in fixed and variable income instruments that generated a gross margin of USD 117.5 million. At the end of this period, the total assets of the Fund were valued at USD 5.03 billion and the highlights were as follows: the FSDEA’s total assets at the end of the third quarter valued at $5.03 billion; 48 per cent of the total portfolio was dedicated to assets in SubSaharan Africa, 31 per cent in North America, 15 per cent in Europe, and 6 per cent across the rest of the world; fixed income net investments were valued at $739 million, representing 15 per cent of the total portfolio; net variable income investments were valued at $894 million, representing 18 per cent of the total portfolio; private equity funds invested $489.9 million in Angola and SubSaharan Africa, which have currently reported value of $884.5 million; bonds and securities earned gains of $117.5 million, before fees and expenses; no additional endowment has been received from the Government to the FSDEA during the period. 

“The Fund’s strong performance and profitability, registered since 2016, continued during the third quarter of 2017. These results came primarily through investments in bonds and securities. These generated a gross margin of $117.5 million. Within the scope of the FSDEA mandate, we envisage the realisation of more investments in several sectors, which will create more and more value for the portfolio, thereby creating income generation opportunities for national citizens and those of neighbouring countries. The capital gains realised in 2016 and 2017 demonstrate the Fund’s prudent investment strategy in private equity. We therefore, expect continuous increase in the value of these investments throughout the year,” said José Filomeno dos Santos, Chairman of the Board of Directors, FSDEA.



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