The Timorese Oil Fund (FP) was worth US$17.45 billion at the end of June, the Central Bank of Timor-Leste (BCTL) said on Monday.
That figure is US$470 million more than at the end of the first quarter of this year, it added.
According to the quarterly report, between April and June, the FP had gross capital inflows of US$192.47 million, of which US$71.43 million were in contributions and US$121 million in royalties from the National Oil Authority (ANO).
In the same period, the fund recorded a yield of US$504 million, including US$117.15 million in dividends and interest and US$421.18 million from the net result of changes in the market value of the instruments held, with a loss of US$34.24. million, due to changes in exchange rates.
“The net result thus consisted of a 2.94% return to the Fund’s portfolio, while the benchmark for the same period was 3.02%,” noted the BCTL, the fund’s operating manager whose overall investment strategy is the responsibility of the Ministry of Finance. (Macauhub)