Baku, Azerbaijan, April 11
By Emin Aliyev - Trend:
The State Oil Fund of Azerbaijan will purchase software on portfolio management and accounting in the new administrative building of the fund.
As of the beginning of April, the SOFAZ funds made up $ 36.6 billion. In accordance with the investment policy of the fund, decreasing bonds account for 80 percent, 10 percent - the shares , as well as gold and real estate - five percent in the structure of the investment portfolio.
The bids with a bank guarantee in the amount of one percent of their value are received not later than 17:00 on May 23 this year. Opening of the bids will take place at 11:00 am on May 26.
More information is available on the following contacts:
Contact person: Vadim Pshenichniy
Address: Baku, Neftchilar Avenue, 24;
Phone: +99412 498 7753; +99412 498 7753 (ext. 178);
State Oil Fund was established in 1999, and while its assets amounted to $ 271 million.
The main purposes of the fund are the accumulation of funds and placement of the fund's assets abroad to minimize the negative impact on the economy, preventing 'Dutch syndrome', to ensure savings for future generations and to maintain the current social and economic standards in the country.
According to regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.
The official exchange rate on April 11 is 0,7844 AZN / USD.
Translated by S.I.
Edited by C.N.