SOFAZ’s pick cycle expands
Baku, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) is at a delayed pick of its assets. The pick cycle of SOFAZ assets can be carefully called “double”.
According to the Fund’s statistics, floating assets increased by $1.679 bn in 2013 from $34.129 bn up to $35.809 bn.
At that, the circularity to which their growth subjects to has changed over the last 5 months.
Fund’s assets reach their pick in the 1st month of the quarter, harshly go down in the 2nd month and recover somehow in the 3rd month. So, in January (1st month of 1st quarter) SOFAZ current assets amounted to $34.6 bn, in April (1st month of 2nd quarter) $34.725 bn.
Now it has changed. Continuous growth of SOFAZ assets has been going on since May, a traditional cycle tells only on growth rate. Thus, in July Fund’s assets grew by $334.4 million, in August by $255.1 million and in September by $541.3 million.
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