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Board Member | IAB
Rules & Procedures |
The
Investment Advisory Board (IAB) is established under the
requirement of Article 16 of the Law No 9/2005 on the
Petroleum Fund to provide strategic investment advice
concerning the investments of the Petroleum Fund to the
Minister of Planning and Finance. The responsibilities of
the IAB are:
o
developing for the Minister performance benchmarks of desired
returns from, and appropriate risks of, the investments of the
Petroleum Fund;
o
advising the Minister on the investment instructions that the
Minister shall provide to the Investment Managers of the
Petroleum Fund appointed pursuant to Article 12;
o
advising the Minister on the performance of the external
Investment Managers and making recommendations to the Minister
on the appointment or removal of external Investment Managers;
and
o
advising the Minister on the need for changes in the overall
investment strategy or management of the Petroleum Fund,
including the making of recommendations as to such changes.
The
secretariat of the IAB is located at the BCTL.
The Chairman of
the Board is elected by its members to serve a one-year term and
may be re-elected. The first Chairman was Mr. Abraão de
Vasconselos, General Manager of the BCTL. He was re-elected for a
second term in the Board meeting held in 19 January 2007.
BBoard Members
At the head
of the table, Chairman of the Board, Mr. Abraão de
Vasconselos, General Manager of the BCTL. At his left
(counterclockwise), Mr. Cristino Gusmão, Head of
Macroeconomic Unit of MoPF; Mr. Sigurd Klakeg, Petroleum and
Tax Policy Advisor at MoPF; Mr. Torres Trovik, from Norges
Bank; and Mr. Manuel Monteiro, Deputy Director of Treasury.
BIAB
Rules and Procedure
The investment and Advisory
Board's activity is guided by rules and procedure. Please
click here for IAB
Rules of Procedures
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