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Azerbaijan's State Oil Fund plans to form new investment portfolio

Economy Materials 25 June 2023 14:23 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 25. The State Oil Fund of Azerbaijan (SOFAZ) aims to increase the investment portfolio, Trend reports.

The investment portfolio is currently distributed as follows: 68.6 percent - in US dollars, 20.4 percent - in euros, 5.2 percent - in pounds sterling, while the rest (5.8 percent) - in Australian dollars, Turkish lira, Russian rubles, Chinese yuan, Japanese yen and other currencies.

Moreover, SOFAZ plans to form a portfolio of assets as follows: a maximum of 50 percent in securities, up to 25 percent in shares, up to 10 percent in real estate and up to 5 percent in gold.

Today SOFAZ's assets look like this: 62.1 percent - bonds and money market instruments, 19.6 percent - stocks, 6.2 percent - real estate, 12.1 percent - investments in gold (101.8 tons).

Meanwhile, the assets of the state fund as of the beginning of 2022 amounted to $45 billion, and they had increased to $49 billion by the end of the same year.

A total of 29.6 percent of the fund's investment portfolio are put 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, 7.6 percent - in international financial organizations.

Moreover, as many as 63.9 percent of SOFAZ's investments are put in developed countries, 16.4 percent - in developing countries, 7.6 percent are accounted for by international financial organizations and 12.1 percent - by precious metals (gold).

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