Azerbaijan’s Oil Fund prefers to invest in Europe
Baku, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has obvious investment tendency in favor of Europe.
SOFAZ executive director Shahmar Movsumov says that following the first half of the year 55.06% of Funds investment portfolio was placed in Europe, 28.11% in North America, and 13.79% fell to the share of international financial institutions.
“In addition, 43.26% of investments were made in bonds of agencies and international organizations, 35.73% in sovereign debt securities, and 14.02% in financial bonds,” Movsumov said.
“By 1st July SOFAZ investment portfolio totaled $11.748 bn with overall assets of $11.886 bn. By 24th July its overall assets reached $12.187 bn.
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