Azerbaijan, Baku, March 13 / Trend E.Ismayilov /
The State Oil Fund of Azerbaijan (SOFAZ) attracts managers for passive management of portfolio, SOFAZ said on Monday.
MSCI World index has been adopted as a "benchmark" for the proposed portfolio of shares.
Investment managers (of a company) must meet the following requirements: to have before December 31, 2011 experience in managing stocks for a period not less than five years; have means worth at least $50 billion, indexed for the company's management of passive index of; must register under the investment advisers act of 1940 or in accordance with the laws of other countries where they operate; the company must have experience in managing funds from the proposed stock index over five years. Tracking error, the standard deviation of portfolio returns on the benchmark, usually measured on the basis of monthly returns, and converted to an annualized basis, over the past five years, compared with the MSCI World index, should not exceed the annualized 0.3 percent.
Proposals from those interested to participate in the tender should be submitted no later than 18:00 (local time) March 15 to the SOFAZ at the following address: Baku, Neftchilar Avenue, 24.
Contact Number: 994 12 498 77 53 (ext. 120).
Contact: Arif Zeynalov (risk analyst).
According to the investment policy of SOFAZ, up to five percent of the investment fund's portfolio may be invested in stocks.
Do you have any feedback? Contact our journalist at email@example.com
Follow us on Twitter @TRENDNewsAgency