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SOFAZ Gives Preference to Short-Term Securities

Business Materials 31 January 2007 14:45

The Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) stated at a press conference that in 2006, SOFAZ continued the policy of investing assets of the Fund into securities, Trend reports.

Presently 51,6% has been placed in securities for a period of one year, 33,9% - from one to three years, 8,2% вЂ" from 3 to 5 years, 2,8% вЂ" from 5 to 7 years and 3,5% вЂ" from 7 to 10 years.

Mainly they are placed in securities with high ratings, served by international rating agencies such as Moody, Standard & Poors and Fitch. Presently 18,5% of assets have been placed in securities with rating РђРђРђ , 28,2% - РђРђ, 28,1% - Рђ, 25,2% - Р'Р'Р'.

Assets of SOFAZ have been placed in securities and tools of the finance market (deposits, funds and cash accounts). Presently 11,9% of the Fund's assets has been placed in securities of agencies 0,5% - deposits, 0,2% - money market and funds, 4,8% - cash accounts, 60% - securities of the financial organizations, 3,1% - foreign countries, 13,4% - corporative securities and 5,8% - mortgage securities.

A large part of funds (54,1%) have been placed in European countries, 39,7% - USA, 5,6% - Asia, 0,4% - Africa and 0,2% - Australia.

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