BAKU, Azerbaijan, January 19. Some 68.6 percent of the investment portfolio of foreign exchange of the State Oil Fund of Azerbaijan (SOFAZ) was distributed in US dollars in the third quarter of 2022, SOFAZ told Trend.
According to the fund, 20.4 percent of the portfolio was distributed in the euro, 5.2 percent in the British pound, and the rest 5.8 percent - in the Australian dollar, Turkish lira, Russian ruble, Chinese yuan, Japanese yen, and other currencies.
In the portfolio of the fund's assets, 62.1 percent were bonds and money market tools, 19.6 percent - were stocks, 6.2 percent - were real estate, and 12.1 percent - were investments in gold (101.8 tons).
In the distribution by credit rating, 73.7 percent of SOFAZ assets were invested in AAA rating instruments, the rest - in AA (14.8 percent), A (8 percent), and BBB (2.8 percent) credit rating instruments, and only 0.6 percent of the fund’s portfolio were invested in non-investment grade instruments.
"Some 29.6 percent of the portfolio was invested in Europe, 16 percent - in the Asia-Pacific region, 33,4 percent - in North America, 0.8 percent - in Australia/New Zealand, 0.4 percent - in the Middle East region, and 7,6 percent – in the international financial organizations," added SOFAZ.
A total of 63.9 percent of SOFAZ's investments were made in developed countries, 16.4 percent - in developing countries, 7.6 percent fall on the share of international financial organizations, and 12.1 percent - in the share of precious metals (gold).