The Ministry of Finance of Bahrain announced that the results of the Reserve Fund for generations future for the fiscal year ended December 31, 2020, they recorded total profits and other revenue of $ 43.9 million, with an average annual return on investment of 6.83%.
The ministry said in a statement today, Tuesday, that the financial data reflects the continuation of the Reserve Fund for Generations future to achieve sustainable growth in revenues and returns in an unprecedented economic environment, as the Fund managed to close fiscal 2020 with positive results.
The ministry indicated that the total assets in management amounted to $ 520.9 million, which confirms the efficiency and effectiveness of the approved investment policy.
The Minister of Finance and National Economy, Salman bin Khalifa Al Khalifa, stressed the important role of the Reserve Fund for generations future in supporting the national economy.
The minister said the fund will continue to perform its tasks in the balance necessary to achieve sustainability and asset development, financial stability and growth through risk management and maintaining investment portfolio diversification and development. .
According to the statement, the fund was launched in 2020 with estimated assets in $ 917.8 million and an amount of $ 450 million was deducted after the enactment of Law Decree No. 23 of 2020 relating to the sale of part of the funds of the reserve account of generations future support the general state budget to limit the repercussions of the “Covid-19” pandemic and support national efforts to address the exceptional pandemic.
Despite this, the ministry said the fund ended the fiscal year with assets estimated at $ 520.9 million.
And the ministry continued: “Despite the challenges posed by the Corona pandemic in the year 2020 and the low oil prices, the Reserve Fund for generations future he achieved outstanding performance and another achievement to add to his own record of results since its inception in July 2006. “
The Generation Reserve Fund stressed that the next phase will be based on the Fund’s strategic priorities to continue building flexibility and balance in the portfolio, as the Board will continue its efforts to transform challenges in opportunities, in order to achieve the most desired results achievements and aspirations for the benefit of generations future.
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