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SOFAZ head Shahmar Movsumov: Weâ€™re able to organize the management of any currency incomes at high level - INTERVIEW

SOFAZ head Shahmar Movsumov: Weâ€™re able to organize the management of any currency incomes at high level - <font color=red>INTERVIEW</font>

19 May 2010 09:15 (UTC +04:00)

- 10 years passed from establishing of SOFAZ. How do you appraise the fundâ€™s activity during this time?

- SOFAZ achieved many successes during this time. SOFAZ is organization which is known as transparent and effective financial corporation in Azerbaijan and in the world. SOFAZ is leader in realization of Transparency Initiative in Mining Industry.

- How do you consider the establishment of SOFAZ as fund which finances budget projects and collects means for future generation?

- As you know, the main purpose of SOFAZâ€™s establishment is to collect the incomes from oil and gas sales on the plan of realization of oil contracts. Presently, fundâ€™s assets rises year after year. The assets made $ 16.2 bln. The second purpose of fund is to spend the means for necessity of current generation.

- How to think the investment strategy of fund?

- SOFAZ realized conservative investment strategy for a long time. SOFAZâ€™s assets are invested in state and corporatively valuable papers via investment credit rating.

- Is it real the having of shares of foreign companies in the share portfolio of fund?

- The SOFAZâ€™s portfolio was consisting of conservative investment assets â€“ deposits, state and corporative bonds. Presently, the fund looks through the diversification variants of portfolio.

- Can the situation of foreign currency market change the structure of assets on the currencies of fund or it is more optimal for today?

- The strategically decision about the placement of means as balanced among the main world currencies was accepted when the currency basket of fundâ€™s investment portfolio was determined.

- Is it possible the transformation of fundâ€™s industry sphere to internal investor?

- SOFAZâ€™s assets may not be used as investment in the country.

- What does show the fundâ€™s participation strategy as the passive investor in the foreign financial markets?

- The investing in great company means new level of responsibility and authority in the sphere of accepting of decision and in the sphere of supervisory and appraising. But Fund has not so reserves.

- Is the fund able to manage the incomes from the realization of Gold Contract?

- Fund established Specialist Team who is able to manage the currency portfolios in international financial markets. Thatâ€™s why, fund is able to manage the fundâ€™s currency stocks from oil and gold sales at high level.

- How do you think about the SOFAZ during nearly 3, 5, 10 years?

- The fundâ€™s currency stocks will increase by several times after some years. According to forecasts, fundâ€™s assets will be 30, 50, and 100 bln dollars after 3, 5, 10 years.