Azerbaijani Pension Fund not to enter stock market

Business Materials 3 December 2012 19:40 (UTC +04:00)

Azerbaijan, Baku, Dec. 3 / Trend A. Akhundov /

Azerbaijani State Social Protection Fund (SSPF) will not have extra funds to invest in securities, SSPF head Salim Muslimov told reporters, commenting on the possible investment of the fund's free capital in SOCAR (State Oil Company of Azerbaijan) bonds and in other securities in general.

According to him, the fund will not have such possibilities in 2013.

"In the future, the fund will not deal with the placement of their funds on its own. This will be carried out by management companies and private pension funds, which will be possible after the launch of saving and voluntary elements of pension insurance," Muslimov said.