DILI, 10 may 2024 (TATOLI) – The Banco Central de Timor-Leste (BCTL) today released the Quarterly Report of the Petroleum Fund of Timor-Leste for the period ended 31 march 2024. The report shows that the capital of the funds as of 31 march 2024 was US$18.45 billion compared to US$18.29 at the end of the previous quarter adjusting for the 2023 Fair Value of Private Debt Instrument Issued by Timor Gap E.P.
The report shows that the gross capital inflows during the quarter were US$20.46 million.
The gross investment income of the Fund for the quarter was US449.61 million comprising dividends and interest received were US$131.83 million, change in the market value of financial assets was US$317.77 million. This represented the total portfolio return for the quarter was 2,52% while the benchmark return for the period was 2.62%.
The Banco Central de Timor-Leste has managed the portfolio close to the benchmark over the period. The difference in return between the Total Portfolio return and the benchmark for this quarter was negative 10 basis points or negative 0.10 percent. The total Fund return since inception was 4.35 percent.
Highlights of the LXX Quarterly Report, which covers the period from 01 january 2024 to 31 march 2024 included:
- The capital of the Fund at 31 march 2024 was US18.45 billion.
- Gross cash inflows to the fund from taxes were US$20.46 million.
- Cash outflows were US$305.96 million of which US$300 million was transferred to the State Budget and US$5.96 million was for management cost.
- The total Fund return for the quarter was 2.52% compared to the benchmark return was 2.62%.
- The portfolio return of the Financial Market Investment for the quarter was 2.57% while the benchmark return for the period was 2.67%.
The Quarterly report as well as the Petroleum Fund Law and Management Agreement are available from Banco Central’s website https://www.bancocentral.tl
Journalist: Jose Belarmino de Sa
Editor: Filomeno Martins
