FSDEA reports 91% growth in net profit and a 12% increase in net portfolio performance in the third quarter of 2025

The Angolan Sovereign Wealth Fund (FSDEA) released its Interim Financial Statements for the nine-month period ended September 30, 2025, confirming solid financial performance consistent with the strategic objectives defined for the 2024–2028 cycle. Total assets reached USD 4.407 billion, a 10% increase compared to the end of 2024, while shareholders equity rose to USD 4.321 billion. The Fund ended the period with a net profit of USD 335.855 million, representing a 91% growth compared to the USD 175.567 million recorded in the same period of 2024.

The recorded growth clearly results from the independent and complementary contribution of two major pillars of the portfolio: liquid investments and alternative investments. Each of these components demonstrated its own dynamics and played a decisive role in the Funds consolidated performance.

In the liquid investments segment, which includes listed financial instruments, bonds, international equities, ETFs, mutual funds, and liquid assets, FSDEA benefited from very favorable global market performance. Capital gains amounted to USD 175.905 million, while dividend and interest income totaled USD 18.539 million and USD 19.005 million, respectively, leading to a 12% increase in the overall performance of the liquid portfolio compared to September 2024.

In parallel, the portfolio of alternative investments played an equally decisive role. The total value of the holdings, valued at USD 849.361 million, reflects the positive impact of structuring projects and strategic assets. FSDEA recorded USD 136.419 million in results from subsidiaries and controlled companies, with a substantial part of this movement stemming from FSDEA International Holding PCC, whose stake in Pensana PLC generated significant gains during the period.

The performance achieved reflects a balanced strategy that combines the agility and liquidity of global financial markets with the solidity and long-term vision of strategic and structural investments.

These two value drivers enabled FSDEA to achieve the best result in its history, while simultaneously ensuring the preservation and enhancement of capital, as well as a commitment to sustainable socio-economic development.

The report is available on the FSDEA website at: https://fundosoberano.ao/relatorios/demonstracoes-financeiras-intercalares