Azerbaijan, Baku, Nov.3 / Trend, E. Ismayilov /
The State Oil Fund of Azerbaijan (SOFAZ) has continued its policy of placement of its Fund's investment portfolio in short-term interests in January-September, SOFAZ told Trend on Wednesday.
Some 96.67 per cent of the assets account for a share of funds invested for about five years. The total amount of the Fund's investment portfolio hit $32.238 billion, or 99.99 per cent of total assets.
According to the report, 44.25 per cent of the Fund's investment portfolio is placed in securities for a period of up to one year, 33.19 per cent from one up to three years, 19.15 per cent from three up to five years, 3.33 per cent more than five years, including 0.08 per cent - in shares.
As of Sept.30, 34.98 per cent of the Fund's assets are placed in securities with a rating of 'AAA', 17.6 per cent - "AA", 25.41 per cent - "A", 22 per cent - "BBB", 0.01 per cent - other securities. The Fund's assets cannot be placed in securities below investment rating.
SOFAZ assets are placed partly in securities and money market products (deposits, bank accounts). At present, 23.44 per cent of the Fund's assets are invested in the bonds of agencies and international organisations, sovereign debt instruments - 16.23 per cent, financial bonds - 14.11 per cent, corporate bonds - 23.38 per cent, short-term commercial instruments - 16.52 per cent, guaranteed bonds - 4.59 per cent, municipal bonds - 0.09 per cent, deposits and money market instruments - 1.56 per cent.
The asset placement is as follows: 64.81 per cent - in European countries, 12.03 per cent - in North America, 11.17 per cent - in developing countries, 5.78 per cent - in Asia, 0.69 per cent - in the Middle East, 5.52 per cent in international financial organisations.