Angola is in the works in launching a sovereign wealth fund to invest the oil-rich nation's wealth abroad. The fund will be called Fundo Soberano Angolano (FSA).
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6/19/2009 Angola to launch sovereign wealth fund in 2009
Reuters reports that, "Angola plans to launch a sovereign fund in 2009 to invest the oil-producing nation's wealth abroad, Finance Minister Severim de Morais said on Friday.
Plans to create the fund, known as the Fundo Soberano Angolano, were announced in November by President Jose Eduardo dos Santos, but the project has since been delayed due to the global economic downturn.
Asked whether the fund would be launched this year, de Morais replied: 'Yes, our aim is to launch the fund in 2009.'"
read more: Reuters