Timor-Leste SWF hits 40% equities allocation

cbtl

The Central Bank of Timor-Leste has released the Quarterly Report of the Petroleum Fund of Timor-Leste for the second quarter of 2014, during which period the fund hit its new target of investing 40% of its assets-under-management in equities.

The portfolio return in the quarter was 2.66% compared with the benchmark return of 2.73% – meaning that since the fund's inception nine years ago, overall returns are exactly in line with the benchmark.

Over the quarter, the fund's capital grew from $15.7

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