BAKU, Azerbaijan, April 19. A total of 57.7 percent of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) was distributed in developed countries, 21.9 percent in developing countries, 6.5 percent in international financial institutions, and 13.9 percent in gold as of March 31, 2022, Trend reports with reference to SOFAZ.
At the same time, 28.9 percent of the investment portfolio of SOFAZ fell in North America, 0.1 percent - in South America, 28 percent - in Europe, 0.6 percent - in the Middle East, 0.8 percent - in Australia and New Zealand, 21.1 percent – in Asia and Pacific island countries, and 0.1 percent to Africa.
SOFAZ's investment portfolio amounted to $45.2 billion as of March 31, 2022.
SOFAZ was established in 1999 and at that time its assets amounted to $271 million.
According to SOFAZ regulation, its funds can be used for the construction and reconstruction of strategically important infrastructure facilities, and also for solving important national problems.
The main goals of SOFAZ are: the accumulation of funds and the placement of its assets abroad to minimize the negative impact on the economy, the accumulation of funds for future generations, and the maintenance of current socio-economic processes in Azerbaijan.