SOFAZ places 94.85 percent of portfolio in short-term instruments
Azerbaijan, Baku, Nov. 5 /Trend, E.Ismayilov/
As a result of three quarters of 2010, the State Oil Fund of Azerbaijan (
SOFAZ) continued the policy of placing investment portfolio in the short-term instruments, and the share of funds invested for up to five years makes up 94.85 percent of the assets, the Fund said in a statement on Friday . In total, the investment portfolio of SOFAR accounts for 99.82 percent ($21.681 billion) of the total assets.
As of Oct. 1, 38.02 percent of the portfolio has been placed in securities for a period exceeding one year, 25.93 percent - from one to three years, 30.99 percent - from three to five years and 4.97 percent, including 0.1 percent of income in assets - more than five years.
Currently, 43.59 percent of the Fund's investment portfolio has been placed in securities rated AAA, 21.74 percent - AA, 27.55 percent - A, 7.09 percent - BBB, 0.04 percent accounts for other.
SOFAR's assets have been placed partly in securities, monetary market instruments (deposits, bank accounts). Only 0.1 percent of the Fund's portfolio has been placed in shares. Currently, 34.08 percent have been placed in the bonds of agencies and international organizations, 13.35 percent - sovereign debt securities, 3.54 percent - deposits and monetary market instruments and 4.08 percent - bank accounts.
Geographic placement of the assets of the Oil Fund is as follows: 73.66 percent placed in European countries, 10.82 percent - North America, 8.04 percent - in international financial institutions, 4.31 percent - Asia and others.
As of Oct. 1, 2010, SOFAR's assets increased 45.8 percent compared with the beginning of this year ($14,900.4 billion), amounted to $21,720.8 million.