DILI, 15 may 2024 (TATOLI) – In a meeting with the Council of Ministers, on wednesday, the Governor of the Central Bank of Timor-Leste (BCTL), Helder Lopes, presented the operational management of the Petroleum Fund.
The presentation included information on investment strategy and implementation, portfolio allocation, investment performance, Petroleum Fund revenues, and Petroleum Fund withdrawals.
“The Petroleum Fund’s investment strategy is guided by clear objectives established by national legislation. The aim is to ensure that revenues from petroleum exploitation are invested in a way that guarantees sustainable benefits for both current and future generations,” said in a statement.
Last week, BCTL 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.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
