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Azerbaijan’s State Oil Fund equity income rises by over $1 billion in three months -EXCLUSIVE

16 December 2025 14:50 (UTC +04:00)

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from its equity portfolio increased by more than USD 1 billion over three months.

In response to an inquiry from APA-Economics, the Fund reported that SOFAZ has so far invested USD 7.1 billion in equity indices. From the Fund’s inception through October 1 of this year, the income generated from these investments reached USD 8.8 billion. By contrast, this figure stood at USD 7.7 billion in the first half of the year. In other words, over one quarter, the Fund’s equity income rose by 14.3%, or USD 1.1 billion, which is considered a high indicator over a short period.

Overall, the value of SOFAZ’s equity portfolio increased from USD 14.8 billion to USD 15.9 billion over three months.

The Fund noted that the increase observed in the MSCI World Index in the third quarter of 2025 was mainly driven by broad-based price growth in global equity markets, particularly in developed countries.

“Positive macroeconomic indicators, corporate financial results exceeding expectations, as well as growing interest in the technology and artificial intelligence (AI) sectors have strengthened investors’ shift toward riskier assets,” the statement added.