BAKU, Azerbaijan, March 4
By Nargiz Ismayilova – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) will continue investing in fixed-income financial instruments and short-term capital market instruments, stocks and real estate within its investment strategy for 2020, SOFAZ Executive Director Israfil Mammadov told Trend.
“The basis of SOFAZ’s strategy is to diversify its investment portfolio by distributing financial flows into various types of assets to minimize the consequences of potential risks,” Mammadov added.
“Regardless of the type of assets, after analyzing the global macroeconomic situation, recent trends in the world markets and thoroughly examining potential opportunities and risks, SOFAZ’s investment strategy may be reviewed,” the executive director said.
The currency distribution of SOFAZ’s investment portfolio as of 2019 was formed as follows: 56.6 percent - the US dollar, 31.4 percent - Euro, 5.1 percent - the British pound while the rest - Australian dollar, Turkish lira, Russian ruble, Korean won, Chinese yuan, Japanese yen and other currencies.