BAKU, Azerbaijan, July 19. The State Oil Fund of Azerbaijan (SOFAZ) has published the distribution of the investment portfolio according to the results of the first half of 2023, SOFAZ told Trend.
It was distributed as follows: 69.6 percent - in US dollars, 19.6 percent - in euros, 4.9 percent - in sterling pounds, and the rest (5.9 percent) - in Australian dollars, Turkish lira, Russian rubles, Chinese yuan, Japanese yen and other currencies as of June 30, 2023.
According to the fund, 60.1 percent of its asset portfolio consisted of bonds and money market instruments, 22.9 percent - stocks, 5.5 percent - real estate, 11.5 percent - investments in gold (101.8 tons).
In the credit rating distribution, 73.4 percent of SOFAZ's assets are invested in AAA rating instruments, while the rest is invested in AA (15.7 percent), A (7.3 percent), BBB (3.3 percent) credit rating instruments. Only 0.3 percent of the fund's portfolio is invested in non-investment-grade instruments.
"A total of 28.1 percent of the fund's investment portfolio is invested in Europe, 15.2 percent - in the Asia-Pacific region, 37.1 percent - in North America, 0.6 percent - in Australia/New Zealand, 0.3 percent - in the Middle East region, 7.1 percent - in international financial organizations," SOFAZ said.
As many as 66.5 percent of SOFAZ invested in developed countries, 15 percent - in developing countries, 7.1 percent are accounted for international financial organizations, while 11.5 percent - precious metals (gold).