Timor-Leste Petroleum Fund
Sovereign wealth fund of East Timor / From Wikipedia, the free encyclopedia
The Timor-Leste Petroleum Fund (Portuguese: Fundo petrolífero de Timor-Leste) is a sovereign wealth fund into which the surplus wealth produced by East Timor petroleum and gas income is deposited by the East Timorese government.[1]
This article needs to be updated. (May 2021) |
The fund was established in 2005 with an opening balance of $205 million.[2] As of 31 December 2010, the capital of the fund was US$6.9 billion.[3]
The fund signed up to the Santiago Principles on best practices for managing Sovereign Wealth Funds and joined the International Forum of Sovereign Wealth Funds.[4] As a member it publishes how it adopts and implements the principles within its governance procedures. In December 2021 the fund had US$18.5 billion in assets under management.[5]