Finance

Finance

SOFAZ extends real estate and share portfolio

30 December 2015 14:43 (UTC +04:00)

SOFAZ told APA-Economics that according to the new investment policy, the investments in shares and real estate were increased.

So, in accordance with the amendments made in "Rules on management of foreign currency assets of the State Oil Fund of the Republic of Azerbaijan", up to 10% of total value of investment portfolio may be directed to the real estate (previous limit was 5%).

Moreover, according to new investment policy, 15 of total value of investment portfolio may be directed to shares.

Rules on investing in gold have not been amended. Borrowings and money market instruments portfolio may make maximum 70% of investment portfolio.

In 2016, the Fund will conduct the investment policy allowing acquiring maximum return with the condition of lower risk of capital loss.

Estimated total value of investment portfolio for 2016 makes AZN 51.3 bln.

Market currency of the investment portfolio of the SOFAZ is defined with USD. 50% of total value of the investment portfolio may be placed in USD, 35% in Euro, 5% in pound sterling, 10% in currencies provided in the "Rules of storage, placement and management of SOFAZ currency assets", approved by Presidential decree of June 19, 2001.