Azerbaijan, Baku, July 24 / Trend E. Ismayilov /
The State Oil Fund of Azerbaijan (SOFAZ) continued the policy of placing its investment portfolio in the short term financial areas in the first half of 2012, SOFAZ executive director Shahmar Movsumov said at a press conference on Monday.
He said that about 98.42 per cent of the investment portfolio fall to the share of funds invested for five years. The total amount of the SOFAZ investment portfolio amounted to $32.59 billion or 99.77 per cent of total assets as of the first six months.
About 52.72 per cent of SOFAZ investment portfolio securities have been placed in securities for up to one year, 38.39 per cent from one to three years, 6.13 per cent from three to five years, 1.58 per cent for more than five years and 1.18 per cent in stocks and gold, Movsumov said.
As of June 30, 34.43 per cent of the SOFAZ investment portfolio was placed in securities with the rating 'AAA', 12.5 per cent - 'AA', 31.54 per cent - 'A', 20.17 per cent - 'BBB' and 1 36 per cent - in other securities. SOFAZ assets cannot be placed in the securities lower the investment rating.
SOFAZ assets are partially placed in securities, money market areas such as deposits and bank accounts. Currently, 23.22 per cent of the SOFAZ investment portfolio is placed in the bonds of the agencies and international organisations, sovereign debt securities - 13.7 per cent, financial bonds - 11.31 per cent, corporate bonds - 15.98 per cent, short term commercial paper - 22.25 per cent, guaranteed bonds - 5.2 per cent, municipal bonds - 0.09 per cent, deposits, money market instruments - 7.08 per cent, gold - 1.05 per cent and shares - 0.12 per cent.
About 62.02 per cent are placed in European countries, 13.4 per cent in North America, 11.65 per cent in developing countries, 6.51 per cent in Asia, 0.7 per cent in the Middle East and, 5.72 per cent in international financial institutions.
As of July 1, 2012 SOFAZ assets amounted to $32.666 billion.