Investment Policy Statement
AGDF is a professional and prudent institutional investor with a long time horizon. This enables it to seek out sustainable real returns and ride out short-term economic and financial market fluctuations. The Fund aims to achieve above-average real returns while maintaining risk within acceptable limits, so as to preserve capital.
At present, AGDF invests in local market in domestic fixed income government securities and term deposits with a fairly small percentage of its portfolio in equities.
AGDF’s long-term objectives and expected economic and market conditions determine the choice of asset classes and their weights in the Fund. The Board reviews the Fund’s asset allocation periodically for consistency with the objectives and evolving opportunities and risks.
In the future, our aim is to diversify the AGDF’s investment portfolio. Potential investment areas include; equities, real estate etc…in line with the Fund's mandate. AGDF is now a member of International Forum of Sovereign Wealth Funds which is global hub for sharing experience and best practices in funds investment and management and we believe this is a good drive in pursuit of achieving our mandate.
The resources of AGDF come from three avenues:
1. Contributions from Rwandans and Friends of Rwanda
2. AGDF investment returns
3. Government contribution
Transparency, Accountability and Disclosure
Agaciro Development Fund (AGDF) belongs to the people of Rwanda. The Government of Rwanda has tasked the Board of Trustees to manage the funds on their behalf. The role of the Board’s is to provide professional, transparent and accountable management of the Fund so that it benefits the current and future generations of Rwandans.
The Board appoints an internationally recognized external auditor to audit the AGDF’s financial statements on independent quarterly and annual basis. Audited financial statements following the review and approval of the Board are disclosed to the public via different media outlets with wider readership and the AGDF official website for transparency and accountability. The AGDF Management also organizes radio and TV shows that are interactive with the public to explain Rwandans the status, growth and future plans of the AGDF.