Timor-Leste Petroleum Fund - East Timor

AAA

DEFINITION of 'Timor-Leste Petroleum Fund - East Timor'

The Petroleum Fund of Timor-Leste or East Timor, a nation in Southeast Asia, was formed in August 2005 to contribute to the management of its petroleum resources for the benefit of its current and future generations. The fund is passively managed close to a defined benchmark by the Banking and Payments Authority (BPA) of Timor-Leste. The BPA commenced fund operations in September 2005 with an opening balance of $205 million transferred to it by the government.

INVESTOPEDIA EXPLAINS 'Timor-Leste Petroleum Fund - East Timor'

The Petroleum Fund's capital had grown to $5.78 billion by March 31, 2010. In 2008, the East Timor government said it was considering changing a law that requires 90% of the Petroleum Fund's assets to be invested in U.S. Treasuries, on concerns over the growing U.S. deficit and weakening U.S. dollar.

RELATED TERMS
  1. Permanent Wyoming Mineral Trust ...

    Established in 1974 by the Wyoming Legislature, the Permanent ...
  2. U.S. Treasury

    Created in 1798, the United States Department of the Treasury ...
  3. Tiger Economy

    A nickname given to the economies of Southeast Asia. Some of ...
  4. Association of Southeast Asian ...

    An organization of countries in southeast Asia set up to promote ...
  5. Sovereign Wealth Fund - SWF

    Pools of money derived from a country's reserves, which are set ...
  6. Endowment Fund

    An investment fund set up by an institution in which regular ...
Related Articles
  1. Sovereign Wealth Funds - Friend Or Foe?
    Investing Basics

    Sovereign Wealth Funds - Friend Or Foe?

  2. An Introduction To Sovereign Wealth ...
    Mutual Funds & ETFs

    An Introduction To Sovereign Wealth ...

  3. Human Capital, An Important Asset For ...
    Investing Basics

    Human Capital, An Important Asset For ...

  4. Beware Of Wall Street's Three Big Lies
    Fundamental Analysis

    Beware Of Wall Street's Three Big Lies

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center