SOFAZ assets reduced more than by 1 AZN bn


April 17, Fineko/abc.az. The coronavirus pandemic posed serious threats to the global economy during the first quarter of this year.

For this time there was a decline in the value of global stock indexes by about 20-25%, which led to a negative return of about 14-16% for many similar sovereign funds, in which a significant share of the distribution of funds by assets is made up of equity investments. All this, of course, has not spared the investment portfolio of the State Oil Fund (SOFAZ).

ABC.AZ reports that this data is contained in the SOFAZ statistics.

It was noted that the presence of more than 80% of SOFAZ's investment portfolio, consisting of stable income securities and gold, characterized by high liquidity and lower price volatility, significantly reduced the possible impact.

Thus, taking into account early transfer payments, as well as short-term volatility recorded in the market value of SOFAZ investments, SOFAZ assets by the end of the first quarter of 2020 amounted to $41.349 bn. As of 1 January 2020 the Fund's assets amounted to $43.323 bn. So, in the first 3 months the Fund's assets decreased by $1.973 bn.