Angola’s $5 billion sovereign wealth fund is seeking investments in mining, timber, health and agriculture in order to diversify its asset base and increase returns.
“A large portion of the portfolio is invested in international securities,” Jose Filomeno dos Santos, the fund’s chairman, said in an interview with Bloomberg Television in Cape Town on Thursday. “We are looking at several opportunities. We wouldn’t want to give away these opportunities by disclosing what they are before they are completely settled.”
The fund, which is managed by Zug, Switzerland-based Quantum Global Investment Management Ltd., was established to invest surplus state funds and promote development in Africa’s largest crude-oil producer after Nigeria.