Africa-Press – Angola. The Angolan Sovereign Wealth Fund (FSDA) closed the 2024 fiscal year with a net income of USD 175.8 million, a reduction of USD 23.5 million compared to the previous year (2023).
Despite the drop in net income, the institution recorded a 5% growth in its total assets, which rose to USD 3.99 billion, according to the FSDA’s annual report and accounts.
Based on the financial statements for the 2024 fiscal year, the Angolan Sovereign Wealth Fund attributes this performance to the appreciation of its investment portfolio, asset diversification, and its focus on strategic economic development sectors. “The investment portfolio reached USD 2.43 billion, divided between USD 1.73 billion in liquid assets and USD 704 million in alternative assets. Furthermore, the Fund holds amounts receivable from the State, amounting to USD 1.44 billion,” the document states.
Regarding profitability, the Angolan Sovereign Wealth Fund (SWF) posted a return of 8% in 2024, surpassing the average return of global sovereign wealth funds, which stood at 6% over the same period.
“This performance confirms the effectiveness of the asset allocation strategy and the Fund’s ability to generate value, even in a context of high volatility in international markets,” the note emphasizes.
In terms of its business areas, the Fund recorded a return on net investments of 9.5% during this period, exceeding the projected target of 5%.
This result was driven by strategic exposures in technology, financial services, telecommunications, and industrials, primarily allocated to North America.
Furthermore, the Fund maintained prudent allocations to high-quality fixed-income securities issued by G7 governments and corporations,” the document reads.
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