BAKU, Azerbaijan, Mar. 2
By Nargiz Ismayilova - Trend:
Azerbaijan’s State Oil Fund (SOFAZ) has made several new investments through funds managed by companies such as PGIM, Gaw Capital Partners, PAG Investments and Blackstone Group in 2019, SOFAZ Deputy CEO Israfil Mammadov told Trend.
Mammadov added that SOFAZ continued its investment activities in 2019 within the framework of the existing Investment Rules and Investment Policy, which are the main approved regulatory acts.
As in 2019, the key investments were made into financial tools with fixed-income, shares of private companies, gold and real estate, the deputy CEO noted.
According to the investment policy, in order to diversify the portfolio, SOFAZ began investing in real estate in 2012.
The deputy CEO said that the first investments were made directly into real estate, located in the central regions of the capitals of highly developed countries, with stable and long-term rental income.
The fund has gradually redirected its focus to foreign real estate investment funds since 2015, finding this type the most attractive, as they increase purchasing power and can diversify the real estate portfolio by strategy, sector and country.
Joint investments with managers of leading companies specializing in real estate investments have also been started.
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