The Angolan Sovereign Fund (FSDEA) achieved net results of US$199.35 million in 2023, registering a growth of 201% compared to the previous year.
This result also represents the fund’s best performance ever, with a return of 10%, compared to 2022, a period in which the institution faced losses of USD 196.65 million, according to a press release to which ANGOP had access this Sunday.
According to this document, the solid result of 2023 reflects the effectiveness of the strategies implemented by FSDEA, standing out as a pillar of growth and economic stability for Angola.
The fund justifies that this result was influenced, essentially, by the good performance of the net investment portfolio, which recorded gains of USD 168.62 million during the year, as well as by the good performance of the alternative portfolio, which achieved net gains of USD 39.28 million.
Contrary to the failure observed in 2022, 2023 was marked by a significant recovery in the performance of the stock and bond markets.
In 2024, the fund obtained results valued at USD 79.24 million, with 52.45 million in the first quarter and 26.79 million in the second quarter.
The noted slowdown in the second quarter result was due to several factors, such as the slowdown in GDP growth in the United States, which fell to 1.8% in the second quarter, the persistent inflation rate above 4% and the increase in the unemployment rate.
The FSDEA concludes in its report that the solid performance achieved throughout 2023 and the first half of 2024 highlights the effectiveness of its growth strategies, the resilience of its business model and the continued commitment to creating sustainable value for the Angolan people.
However, it is expected that the results of the third quarter will return to the levels achieved during the first quarter of 2024, expecting, for the rest of the year, the continuation of stable global economic growth and continued moderation of inflation in the main economies.
Betting on investment in the alternative class for Angola
In terms of the investment policy of the Angolan Sovereign Fund (FSDEA), the positive results obtained in 2023 and in the first and second quarters of 2024 must be reinvested.
This reinvestment will be divided between the same asset classes that have already demonstrated success and into the alternative investment class, with a focus on the fertilizer, pharmaceutical, animal and vegetable protein production sectors, as well as forestry and export, in accordance with the approved alternative investment strategy.
This strategy aims, among other aspects, to promote the diversification of the national economy, stimulate the increase in productivity and competitiveness of the national economy, reduce imports, increase exports and promote investment opportunities in Angola, through the establishment of strategic partnerships and the attraction and fixation of foreign capital.
The Angolan Sovereign Fund is a collective public institution created under Presidential Decree No. 48/11, of March 9.
The institution specializes in strategic investments, through a sustainable mechanism that ensures the maximization of long-term returns, the preservation of capital and the support for the sustainable socioeconomic growth of the country, with a view to maximizing capital and the generational transfer of wealth. QCB
2024-09-02 13:32:06