BAKU, Azerbaijan, Oct. 25
By Anastasia Savchenko - Trend:
Fromm January through September 2019, the management expenses of Azerbaijan’s State Oil Fund (SOFAZ) amounted to 18 million manat ($10.6 million), Trend reports referring to SOFAZ Oct. 25.
SOFAZ extrabudgetary expenses amounted to 219.8 million manat ($129.2 million) due to difference in exchange rates.
As of Sept. 30, 2019, the Fund’s assets increased by 10.4 percent compared to the beginning of 2019 ($38.5 billion) and amounted to $42.5 billion.
The increase in assets was at the expense of the SOFAZ budget revenues, including income from asset management.
The highest return for the corresponding period was observed in the sub-portfolio, where positive return was recorded on each component of the investment portfolio.
Thus, despite the negative return on the stock portfolio last year (-6.6 percent) for the period from January through September 2019, the corresponding indicator was 15.2 percent.
($1= 1.7 manat on Oct. 25)