FSS makes investment profit of about 4.5 billion patacas in H1 after losing 7.7 billion patacas last year
The Social Security Fund (FSS) said in a statement yesterday that its investments for the first half of this year recorded a return of about 4.5 billion patacas thanks to the recovery of the global economy and the improved investment environment, after its 2022 annual report released earlier this year showed that it suffered losses in global financial investments last year of about 7.7 billion patacas.
The statement noted that the loss last year resulted in a significant 71.18 percent drop in the income of the fund compared to the previous year.
The statement pointed out that the world’s macro economy was unstable and complex in 2022, as the planet was affected by a series of unfavourable factors such as the Russian-Ukrainian conflict and the COVID-19 pandemic, and thus the global stock and bond markets were severely impacted and went down simultaneously.
However, the FSS has recorded an overall investment return of about 4.5 billion patacas for the first half of the year, while the cumulative overall investment return of the past five years is about 15.6 billion patacas.
As of the first half of 2023, the total assets of the FSS stood at around 90 billion patacas, an increase from about 86.6 billion patacas at the end of 2022, the statement noted.
The fund pledged in its statement that it will closely observe the economic changes, continuously optimise the investment portfolio based on its income and expenditure, strive for a reasonable and stable long-term return on investment (ROI), ensure financial stability, and enable it to achieve long-term sustainable development.
This table provided by the Social Security Fund (FSS) earlier this year in its 2022 annual report shows a comparison of its expenditures in 2021 and 2022.
