State Oil Fund of Azerbaijan started investments in Turkish liras and Australian dollar in July
Baku, Fineko/abc.az. In the first half of the year investment portfolio of State Oil Fund of Azerbaijan (SOFAZ) has been brought to $32.59 bn.
A the press conference in Baku the Funds Executive Director Shahmar Movsumov said that the Funds investment portfolio is mostly formed at the expense of American dollar ( for $18.575 bn).
" The portfolio also has 9.601 bn euro, 1.016 bn British pounds, and 220.146 ounces of gold ",- Sh. Movsumov said. The Fund also started investments in other currencies.
" In July the Fund invested 800 million Turkish liras in Turkish currency or $400 million through different Turkish banks. Average yield on this tool makes 8-10% per annum. The Fund is planning to invest $400-500 million in Russian roubles. The Funds investment funds in Russia will be placed on short term deposits and invested in securities in future. So far no investments were made in Russian rouble ",- Sh. Movsumov said.
The Fund started first investment in Australian dollar in July for 200 million Australian dollars through investment in state bonds.
62,02% of SOFAZ investments are placed at European markets, 13,40%- at North American markets, 11,65%- in developing countries, 6,51%- in Asia and Pacific Ocean countries, 5,72% - in international financial institutions and 0,70% - in Middle East.
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