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More than half of SOFAZ's investment portfolio concentrated in USD

Business Materials 20 April 2011 10:54 (UTC +04:00)
The total sum of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $25.77 billion in the first quarter of 2011, which constitutes 99.93 percent of the total assets, SOFAZ executive director Shahmar Movsumov said at a press conference on the first quarter's activity results.

Azerbaijan, Baku, April 20/ Trend A.Akhundov /

The total sum of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $25.77 billion in the first quarter of 2011, which constitutes 99.93 percent of the total assets, SOFAZ executive director Shahmar Movsumov said at a press conference on the first quarter's activity results.

Some 55.26 percent of the investment portfolio is concentrated in USD ($14.24 billion), 39.67 percent - in euros (7.236 billion euros) and 5.07 percent - in British pounds (813.21 million pounds).

As of April 1, 2011, SOFAZ assets increased by 13.3 percent compared to early 2011 ($22.76 billion) and amounted to $25.79 billion.

The State Oil Fund of Azerbaijan was established in 1999.

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