Angola Wealth Fund Planning to Manage More Assets Internally
- FSDEA seeks to improve internal management capacity this year
- Most of sovereign wealth fund’s assets are in fixed income
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Angola’s $4.8 billion sovereign wealth signaled a shift towards managing more of its own investments, the latest in a string of institutional investors seeking to cut costs and reduce their reliance on external managers.
Fundo Soberano de Angola, known by its Portuguese acronym FSDEA, plans to train staff to start managing more of its assets over the next four years and will inject more cash into the fund as oil prices improve, Chairman Jose Filomeno dos Santos said in an interview in London on Tuesday.