Bank Of Baku

SOFAR to start to invest in new investment instruments from 2012

SOFAR to start to invest in new investment instruments from 2012
# 02 November 2011 07:48 (UTC +04:00)
To him, as a result of changes to the rules of storage, three more had been added to the existing investment instruments: “Besides, the fund may in stocks, real estate and gold. At the same time, the extension was recorded also in currencies – after this we can invest in currencies of Turkey and Russia too”.

In connection with this the fund is preparing a new investment policy. Investment Policy is prepared annually, and on completion of the document it will be submitted to the SOFAR Supervisory Board and head of state.

Movsumov added that as a result of these changes choice of currencies extended. Head of the Fund noted that the changes to the rules of storage, allocation and management of foreign exchange by means of the State Oil Fund was made for the first time in 10 years: “This is an indication that the State Oil Fund adheres to conservative policies”.
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THE OPERATION IS BEING PERFORMED