BAKU, Azerbaijan, April 22. The currency investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) at the end of the first quarter of 2024 ($57.373 billion) is distributed as follows: 69.5 percent in US dollars, 19.4 percent in euros, 4.9 percent in pounds sterling, 0.7 percent in Australian dollars, 1.5 percent in Japanese yen, 1.1 percent in Chinese yuan, and 3.6 percent in other currencies, Trend reports.
According to the fund, 55.3 percent of its asset portfolio consisted of bonds and money market instruments, 25.7 percent - shares, 5.8 percent - real estate, and 13.2 percent - investments in gold (104.6 tons).
In the credit rating allocation, 66.4 percent of SOFAZ's assets were invested in AAA-rated instruments, with the remainder in AA (16.9 percent), A (10.1 percent), and BBB (6.4 percent) credit rating instruments. Only 0.2 percent of the fund's portfolio is invested in non-investment-grade instruments.
Meanwhile, the currency investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) of $56 billion at the end of 2023 was distributed as follows: 67.5 percent in US dollars, 21.2 percent in euros, 5.3 percent in pounds sterling, 0.7 percent in Australian dollars, 0.2 percent in Turkish lira, 0.2 percent in Russian rubles, one percent in Chinese yuan, 1.4 percent in Japanese yen, and 2.5 percent in other currencies.
However, its asset portfolio at the end of 2023 included 57.7 percent in bonds and money market instruments, 24.3 percent in equities, 6 percent in real estate, and 12 percent in gold investments (101.8 tons).
The credit rating allocation saw 68.1 percent of SOFAZ's assets invested in AAA-rated instruments, with the remainder in AA (16.6 percent), A (8.6 percent), and BBB (6.5 percent) credit rating instruments. 0.2 percent of the fund's portfolio was invested in non-investment-grade instruments.
To note, SOFAZ has been operating since 1999 and accumulates Azerbaijan's revenues from the realization of international oil and gas contracts.
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