Over half of Azerbaijani State Oil Fund’s investment portfolio concentrated in dollars
Azerbaijan, Baku, Feb.12 /Trend, E.Ismayilov /
In 2011, 52.68 percent of the total investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) is concentrated in dollars (about $15.61 billion), SOFAZ told Trend on Saturday.
The total amount of SOFAZ's investment portfolio in 2011 amounted to about $29.63 billion, which comprises 99.43 percent of total assets.
Some 41.66 percent of SOFAZ's portfolio is concentrated in euros (about 9.54 billion euros), 5.65 percent - in British pound sterling (about 1.09 billion pounds sterling).
SOFAZ assets, as of Jan. 1, 2012, increased by 30.9 percent, compared to early 2011 ($22.766.8 billion) amounted to $29.8 billion.
The State Oil Fund was established in 1999.
SOFAZ key priorities are the accumulation of assets and placement of assets in abroad with the aim of minimization of negative impact on the economy; prevention, to extent, of the Dutch Disease; the provision of accumulation of assets for the next generations; and the provision of financial support to the existing socioeconomic processes in the country.