Fundo Soberano de Angola (FSDEA), in 2021, recorded a net income of $62.9 million (€63.1 million at the exchange rate of September 4, 2022), a decrease of 16% compared to €74 million. (74.2 million euros). Acquired in 2020. The fund’s investment portfolio is $2.1 billion.
In terms of sectors, FSDEA’s net investment portfolio is mainly concentrated in government-issued instruments, 37.92%, and the financial sector, 30.52%.
By regions, North America, primarily the US stock exchange, absorbs 87% of the investments made by the Angolan State Fund.
Deloitte, which performs the FSDEA audit, asserts that about 45% of the fund’s assets were under the management of Ninety One UK Limited, contrary to the provisions of the law, which sets the maximum amount that can be allocated at 30%. for a single entity. The auditor says it has obtained assurances from management that it is taking steps to “regulate this situation” for the 2021 fiscal year.
Management also reported that it had created FSDEA International Holding PCC, a circumstance that allowed it to liquidate 25 companies it had set up in Mauritius “the utility of which appears to be unnecessary to achieve the strategic objectives that guided the creation of a portfolio of alternatives investments.”
Among the most relevant investments made in 2021, the FDSEA highlights the additional acquisition of 1,250,000 shares of Pensana, in a UK-based mining company and ventures in the province, for more than $2 million, and the realization of an $8 million bond loan For the renovation of the Intercontinental Hotel in Zambia, the acquisition of 10% of the share capital of Ozango Mineirais, formerly owned by Ferrangol, for an unspecified amount, as well as the supply of $1.5 million in Estrela da Floresta.
