The Central Bank of Timor-Leste has released the Timor-Leste Petroleum Fund Quarterly Report for the fourth quarter of 2025, showing the fund's capital stood at USD 18.61 billion at Dec. 31, down from USD 18.95 billion in the third quarter. During the quarter, the portfolio generated a 1.68% return from financial markets, ahead of its 1.58% benchmark. Total receipts in the quarter were USD 11.37 million, while gross investment income reached USD 251.64 million, including USD 91.48 million from interest, coupons and dividends and USD 160.15 million from market value changes. Total withdrawals were USD 604.34 million, with USD 600 million transferred to the Treasury Account to finance the state budget and USD 4.34 million used for investment management costs. For full-year 2025, the fund opened at USD 18.27 billion, recorded USD 36.12 million in receipts, USD 1.75 billion in net investment returns after expenses and taxes, and USD 1.45 billion in transfers to the Treasury Account. Its total market return for 2025 was 10.41%, compared with a 10.04% benchmark. Since the Petroleum Fund was established, total receipts have reached about USD 25.28 billion, total investment returns in financial markets USD 12.03 billion, and withdrawals to finance the state budget USD 18.86 billion. The average annual return since inception was 4.67%.

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