Angola Sovereign Fund achieves positive results in Q3

21 December 2017

The Sovereign Fund of Angola posted a positive result of US$40.5 million in the third quarter of 2017, with total assets at the end of September of US$5.03 billion, the institution said in a statement released on Wednesday.

The statement added that the “favourable performance” is due to the good results obtained from capital investments in securities, which generated a gross margin of US$117.5 million.

José Filomeno dos Santos, Chairman of the Board of Directors, said in the statement that the “favourable performance and profitability” registered since 2016 “continued during the third quarter of 2017.”

The statement noted that 48% of the Fund’s capital was invested in assets in sub-Saharan Africa, 31% in North America, 15% in Europe and the remaining 6% in the rest of the world.

The Angola Sovereign Fund was set up with an initial allocation of US$5 billion and José Filomeno dos Santos was nominated to lead it 2012 by his father and then Angolan head of state, José Eduardo dos Santos. (macauhub)