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Azerbaijan may buy sharply depreciating shares on the world financial market

28 January 2009 15:41 (UTC +04:00)

According to him, due to the conservative investment strategy, global financial crisis has adversely affected the Fund’s investments as a very small portion of the funds had been invested in shares on world markets.
Movsumov said that only 0.02% of the funds was invested in stocks while the bulk of assets was invested in bonds, including sovereign bonds.
Amid the financial crisis, stocks of even major companies have plunged on the world market. However, given their strategic importance for the governments of the countries where these companies are based, these companies are almost unlikely to go bankrupt.
With this in mind, Shahmar Movsumov didnâ€™t rule out the probability of SOFAZâ€™s buying shares of these companies.
Prior to this, SOFAZ deferred its plan to invest in stocks after symptoms of the crisis emerged on the U.S. stock market in mid-2007.
Shahmar Movsumov said SOFAZ may reconsider the investment strategy, but investment in shares is possible after the crisis slows down.