Azerbaijani State Oil Fund determines investment portfolio structure for 2013

Azerbaijan, Baku, Jan. 2 / Trend /

Some 85 per cent of the total value of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) for 2013 will be formed by monetary market instruments and the debt market. This is stipulated by the investment policy for 2013, approved by President Aliyev.
Up to five per cent of the investment portfolio may be invested in stocks, up to five per cent in real estate and five per cent in gold, the document says.

The projected total cost (average amount) of SOFAZ's investment portfolio for 2013 was set at 25.2 billion manat, while as of late 2012 it was projected at 23 billion manat.

As last year the currency structure of SOFAZ's investment portfolio is determined as follows: 50 per cent of the assets can be placed in U.S. dollars, 40 per cent in euros and five per cent in pounds sterling. The remaining five per cent of the total value of SOFAZ's investment portfolio may be placed in assets in the currencies specified in subparagraph 2.2.1 of the 'Rules of storing, placing and governing the currency of the State Oil Fund of the Azerbaijan Republic', approved by Presidential decree No 511 as of June 19, 2001.

The three-month LIBOR rate for the relevant currency (except the euro), published by the British Banks Association, the portfolio in euros for the three month interest rate EURIBOR and the portfolio of shares - MSCI World İndexA, are a basic indicator (benchmark) to determine the yield on SOFAZ's portfolio of money market instruments and debt market.

It is predicted that by late 2012, SOFAZ assets will reach the level of $34 billion.

SOFAZ was established in 1999 when its assets amounted to $271 million.

The main purposes of the fund are the accumulation of funds and placement of the fund's assets abroad to minimise the negative impact on the economy preventing a 'Dutch syndrome' to ensure savings for future generations and to maintain the current socio-economic standard in the country.

Kazakhstan reports 658 new COVID-19 cases over past day
Kazakhstan reports 658 new COVID-19 cases over past day
Kazakhstan resumes flights from Almaty to Kyrgyzstan
Kazakhstan resumes flights from Almaty to Kyrgyzstan
Gasoline prices surge in Kazakhstan
Gasoline prices surge in Kazakhstan
Loading Bars
Latest
Georgia to secure AstraZeneca vaccine in coming weeks
Iran-made COV-Pars vaccine one of world best vaccines: Official
Kazakhstan reports 658 new COVID-19 cases over past day
Chinese mainland reports 11 new imported COVID-19 cases
Uruguay begins vaccination drive against COVID-19
Uzbekistan reveals priorities for agriculture dev’t for 2021
5.1-magnitude quake hits 11 km S of Urrao, Colombia
Iraq reports 3,599 new COVID-19 cases, 699,088 in total
UN chief asks for generous donations for Yemen humanitarian operations
5 killed in helicopter crash in east China
New service of money transfers between Russia, Azerbaijan launched
Number of COVID-2019 cases across globe up by over 347,000 in past day
EU to propose vaccine certificates in time for summer holidays
Turkey eases coronavirus restrictions as cafes, eateries reopen
European Council President pledges Georgia to have access to Covid-19 vaccine
First vaccine against coronavirus registered in Uzbekistan
Iran, Syria enjoy $1.5 billion trade capacity: Official
More cargo from Georgia to Lithuania expected in future by Klaipeda Seaport
Azerbaijani Defense Minister, Ambassador of Belarus discuss prospects for development of military co-op
Azerbaijani FM, Uzbek ambassador exchange views on current situation in region (PHOTO)
Numerous people take part in online survey on return to Azerbaijan’s Nagorno-Karabakh region
Azerbaijani State Insurance Commerce Company talks about closure of some branches
Azerbaijan to develop new services for microfinance sector
Overdue debt increases in Georgia
Georgia sees increase in volume of deposits in lari
Georgian commercial banks see decline in lending
Azerbaijan to use Turkey's experience in restoring monuments in liberated lands (PHOTO)
Georgian farmers can now get diesel benefits online
Iran's Energy Exchange announces products to be on sale on March 2
Azerbaijani SOFAZ unveils volume of foreign currency sold at auctions during February
Presidential website releases full version of press-conference of Azerbaijani president (VIDEO)
Uzbekistan, Organization of Islamic Cooperation talk prospects of cooperation
Georgia to secure first doses of Oxford-AstraZeneca COVID-19 vaccine
Iran’s Bahar Azadi gold coin price rebounds
Statement in support of Azerbaijan's territorial integrity adopted at conference in Iran (PHOTO)
Contract signed in Iran on fish farming
Former French president Sarkozy convicted of corruption, handed jail sentence
Iran and Georgia fix problem with transit of trucks, through Azerbaijan
Azerbaijani SME Development Agency receives numerous applications for creation of businesses in liberated lands
Beekeeping to rapidly develop in liberated Azerbaijani lands - Association
Uzbekistan’s state budget expenditures mainly account for social sphere
State Insurance Organization opens tender for installation of drip irrigation system
Buta Airways Launches Flights to Tbilisi
Non-oil exports from Azerbaijan show uptick - CAERC
Russian industrial holding sells its shares in Uzbek cement enterprise
EU to propose vaccine passports in March in time for summer
Azerbaijan and Iran to build new bridge over Astarachay - Iranian ambassador
Kazakhstan resumes flights from Almaty to Kyrgyzstan
Azerbaijan confirms 71 more COVID-19 recoveries
First UAE ambassador arrives in Israel, eyes Tel Aviv embassy
China's import of Azerbaijani products grows multifold in value terms
Turkmen Health Ministry opens tender to purchase of medical equipment
Volume of fish caught in Iran's Golestan Province announced
Gasoline prices surge in Kazakhstan
Iran seeks to enhance relations between Caspian states in transport sphere - ambassador
Turkey records lower revenues from car export to Iran in Jan. 2021
Raiffeisen Bank continues to monitor Turkmenistan's business perspectives
Azerbaijan publishes data on computer security requests for February
Azerbaijan issues data on foreign trade turnover of precious stones, natural pearls
Azerbaijani army's mortar batteries continue live-fire training exercises (VİDEO)
Iran and Azerbaijan to cooperate in reconstruction of Karabakh
Georgia thanks EU for strong partnership and support
Turkey issues data on Jan. 2021 volume of crude oil shipment via local ports
New organizations registered within Azerbaijan's 'gov.az' web domain
Turkey records substantial growth in exports to Turkic-speaking countries
Weekly review of Georgian capital markets (Feb.22 through Feb.26)
Germany eyes co-op with Uzbekistan in construction of Mazar-i-Sharif – Kabul – Peshawar railway
Kazakhstan boosts imports from Vietnam
WTO to hold ministerial meeting in Geneva in late 2021
Azerbaijan plans to raise SMEs' share in non-oil GDP by 2025
Data on quality of services from Azerbaijani mobile operators issued
Uzbekistan attracts Russian experts for reconstruction of Sardoba reservoir
Turkmenistan allocates land for planting legumes in Dashoguz region
Details of release of Iranian blocked assets in South Korea
Iran to restrict sea traveling during Nowruz holiday
Payments firm Klarna triples valuation to $31 billion by raising $1 billion
Iran to increase border control
Georgia aims to import wheat from Kazakhstan
Iran reveals COVID-19 data for March 1
UK consumer credit slumped as new lockdown hit in January
Azerbaijan's SOCAR Polymer maintains leading positions on export in private sector
Saudia plans to order 70 Airbus, Boeing jets
Number of payment cards in circulation surges in Kazakhstan
Ankara hosts meeting of Joint Azerbaijan-Turkey Commission on Culture (PHOTO)
S&P names key risks for Georgian economy in 2021
OECD recommends steps to develop export-oriented agriculture sector of Georgia
Kazakhstan Railways opens tender to buy pipes
Uzbekneftegaz launches second compressor station at Alan field
Uzbek-Korean JSC announces tender for transport services
Iran plans to increase amount of airplanes flying over its territory
Iranian gov't approves a seven-year plan to save Gorgan Bay
Iran's Atomic Energy Organization talks Bushehr Nuclear Power Plant
Non-cash payments by foreigners in Azerbaijan plummet
Azerbaijan's satellite operator discloses revenues for Jan.2021
Turkish TOBB reveals number of registered Iranian companies in Jan.2021
Volume of problem loans in Azerbaijan decreases
Central Bank of Azerbaijan shares data of deposit operations of Azerbaijani commercial banks
Turkey announces coal handling figures via local ports over January 2021
Kazakhstan sees decrease in overall lending volumes
Third export train with Turkish-made goods sent to China via BTK railway
All news