Baku, Azerbaijan, Apr. 20
By Maksim Tsurkov - Trend:
As much as 12.9 percent of the investment portfolio of Azerbaijan’s State Oil Fund (SOFAZ) was made in shares in January-March 2017 compared to 12.2 percent in the same period of 2016, said a SOFAZ report posted on its website.
As of Apr. 1, 2017, the total volume of SOFAZ investment portfolio was $33.2 billion or 99.98 percent of the total volume of assets, the report said.
As much as 88 percent of the investment portfolio was placed in tools of the monetary market for one to five years, 39.1 percent of which was placed for a one-year-period, 28.8 percent for one to three years, 20.1 percent for three to five years and 12 percent for more than five years. Some 21.1 percent was kept in real estate, assets and gold, the report said.
Currently, 3.6 percent of SOFAZ investment portfolio is placed in gold, 4.6 percent – in real estate, 12.9 percent – in shares.
The assets of the investment fund were placed as follows: 41.8 percent in European countries, 26.9 percent in the Asia-Pacific Ocean region, 24.2 percent in North America, 3.5 percent in Australia, 0.1 percent in the Middle East, 0.1 percent in South America, 3.4 percent in international financial organizations.
As of Apr. 1, 2017, SOFAZ assets increased by 0.18 percent compared to early 2017 and amounted to $33.207 billion.
SOFAZ was established in 1999 with assets of $271 million.
Based on SOFAZ's regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.
The main goals of the State Oil Fund include: accumulation of resources and the placement of the fund's assets abroad in order to minimize the negative effect on the economy, the prevention of "Dutch disease" to some extent, promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.
(1.7022 AZN = 1 USD on Apr. 20)