BAKU, Azerbaijan, December 6. The investment portfolio of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) totals more than $45.4 billion to date, said Advisor to the Executive Director of SOFAZ Bahruz Bahramov in an interview with Trend.
According to him, about 63 percent of the portfolio is accounted for by bonds, 19 percent - by stocks, 12 percent - by gold, and 6 percent - by real estate.
"There were no serious changes in our investment portfolio this year. I would like to note that our fund does not keep its foreign currency in bank accounts. Every investment in a foreign currency brings us profit, and this profit has nothing to do with changes in the exchange rate," said Bahramov.
He noted that the main foreign currency in which the fund makes its investments is the U.S. dollar.
"If consider the balance of payments and Azerbaijan's turnover, the currency we need the most is the U.S. dollar as well as the euro," he said.
The advisor to the executive chief noted that the investment portfolio of SOFAZ is as well-diversified as possible and insured against possible risks.
"To date, our investments are located in such regions as North America and Europe, Asia, the Asia-Pacific region, Australia/New Zealand, and the Middle East region. In accordance with our strategy, there are no plans to enter any new markets in the near future or to leave our investment region," he added.
