SOFAZ reveals volume of investments in shares

Gas Materials 31 May 2021 11:21
Baku, Azerbaijan Trend News Agency Leman Zeynalova
SOFAZ reveals volume of investments in shares

At the end of the first quarter of 2021, the volume of investments in shares stood at 17 percent ($ 7.3 billion) of the total investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ), including 4 percent ($ 1.7 billion) of investments made in private capital, the Fund told Trend.

“Starting from 2012, in order to diversify the investment portfolio, SOFAZ made a decision to add such financial instruments as shares (both quoted shares and private investments), real estate and gold,” SOFAZ said.

SOFAZ was established in 1999 with assets of $271 million.

Based on SOFAZ's regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.

The main goals of the State Oil Fund include the accumulation of resources and placement of assets abroad in order to minimize the negative effect on the economy, promotion of resource accumulation for future generations, and support of current social and economic processes in Azerbaijan.