The Mozambique Sovereign Fund (FSM) began implementing its long-term investment strategy in the second quarter of this year, moving away from investing exclusively in bank deposits and towards a portfolio based on international sovereign debt.

According to the Bank of Mozambique’s Quarterly Investment Report, which Lusa accessed today, the transition followed approval of the Investment Master Plan by the Ministry of Finance, allowing the central bank, which has managed the fund since December, to begin allocating its resources to portfolios denominated in US dollars and euros.

At the end of June, the FSM had a market value of US$118.36 million (€102.9…