Almost 90% of Azerbaijan State Oil Fund’s investment portfolio placed in securities

Baku, Azerbaijan, May 21

By Emil Ismayilov - Trend:

The State Oil Fund of Azerbaijan (SOFAZ) continued its policy of placing its investment portfolio in short-term projects in January-March 2014, according to SOFAZ's first quarter report.

The share of funds invested over the past five years is estimated at 87.7 percent of SOFAZ investment portfolio.

The total volume of SOFAZ investment portfolio is $36.344 billion, or 99.3 percent of the total volume of assets, according to the report.

Around 55.6 percent of SOFAZ investment portfolio is placed in securities for a one-year period, 31 percent for one to three years, 1.1 percent for three to five years and 1.6 percent for more than five years. Some 10.7 percent is kept in real estate, assets and gold, the report said.

As of March 31, 2013, around 27.8 percent of the investment portfolio is placed in securities with 'AAA' ratings, 20.2 percent in 'AA', 28.8 percent in 'A', 22.8 percent in 'BBB' and 0.4 percent in other securities. SOFAZ assets cannot be placed in securities with a lesser investment rating.

SOFAZ assets are partially placed in securities, tools of the monetary market such as deposits and bank accounts. Currently, 22.3 percent of SOFAZ investment portfolio is placed in bonds of agencies and international organizations, 9.2 percent - sovereign debt securities, 13.4 percent - financial bonds, 36.4 percent - corporate bonds, 12.6 percent - short term commercial securities, 6.1 percent - guaranteed bonds.

Around 6.8 percent of the investment portfolio is placed in deposits and monetary market tools, gold-3.5 percent, real estate- 3 percent, assets-3.6 percent, investments in the projects - 0.6 percent.

The assets of the investment fund were placed as follows: 55.97 percent in European countries, 19.19 percent in North America, 10.39 percent in the Asia-Pacific Ocean region, 1.52 percent in the Middle East, 5.2 percent in South America and 7.72 percent in international financial organizations, Africa - 0.01 percent.

As of April 1, 2014, SOFAZ assets increased by 2.07 percent compared to early 2014 ($35.877.5 billion) and were estimated at $36.618.4 billion.

SOFAZ was established in 1999 with assets of $271 million.

Based on SOFAZ's regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.

Edited by CN

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