Fundo Soberano Angolano
|Angola Sovereign Fund|
|Chairman:|| Armando Manuel
|Based in:|| Luanda, Angola
|Assets:|| $5 billion
|Reports||Sovereign Wealth Funds Contact and Information Report|
A commission to create the fund was announced on November 20, 2008 by President Jose Eduardo dos Santos.
The FSDEA will be funded by oil revenues from Angola's oil sector. According to initial government estimates, all oil revenues over $58 a barrel of oil will be place into the fund.  Angola expects to receive $16.6 billion in revenues in 2010 up from $15.7 billion in 2009.
The Government Pension Fund of Norway (GPF) has advised the fund on the best way to manage oil revenues. Owing to this it has been expected that the fund will replicate the investment strategy of the GPF by purchasing small stakes of common stock in international companies. The IMF has praised the creation of a Sovereign Wealth Fund.
Angola has a state-owned oil firm Sonangol, which it has used to buy stakes in companies. However, the primary goal of Sonangol is to develop Angola's oil sector, rather then long term investments. It is not clear if Sonangol will transfer its stakes to FSDEA.
A three person board was appointed at at the launch. Jose Filomeno dos Santos, one of the president's sons, was appointed, along with Armando Manuel, the Government's economic affairs secretary, and Hugo Miguel Evora Goncalves, a former manager at Standard Bank of Angola and head of Pension and Development Fund of Angola. Manuel was appointed as Chairman of the fund. He resigned in May 2013 to takeover as Finance Minister of Angola.
Quantum Global Investment Management, a Swiss based firm, will manage FSDEA's daily operations.