DILI, 09 august 2024 (TATOLI) – The Banco Central de Timor-Leste (BCTL) released the Quarterly Report of the Petroleum Fund Timor-Leste for the period ended 30 june 2024. The report shows that the capital of the fund as of 30 jun 2024 was US$18.47 billion compared to US$18.45 billion at the end of the previous quarter after adjusting for the 2023 Fair Value of Private Debt Instrument issued by Timor Gap EP.
The report shows that the gross capital inflows during the quarter were US$11.80 million.
The gross investment income of the Fund for the quarter was US$214.42 million comprising dividends and interest received were US$138.09 million, and the change in the market value of financial assets was US$76.33 million. This represented the total portfolio return for the quarter was 1.21% while the benchmark return for the period was 1.31%
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 basis points or negative 0.11 percent. The total Fund return since inception was 4.34 Percent.
Highlights of the LXXI Quarterly Report, which covers the period from 01 april 2024 to 30 june 2024 include:
- The capital of the Fund at 30 june 2024 was US$18.47 billion.
- Gross cash inflows to the fund from taxes were US$11.80 million.
- Cash outflows were US$203.70 million of which US$200 million was transferred to the State Budget a US$3,70 million was for management costs.
- The total Fund return for the quarter was 1.21% compared to the benchmark return was 1.31%.
- The portfolio return of the Financial Market investments for the quarter was 1.21% while benchmark return for the period was 1.32%.
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: Camilio de Sousa
Editor: Filomeno Martins
