Baku, Azerbaijan, Jan. 29
By Emil Ismayilov - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) continued its policy of placing its investment portfolio in short term projects in 2013, SOFAZ reported today.
The share of funds invested over the past five years is estimated at 88.6 percent of SOFAZ investment portfolio. The total volume of SOFAZ investment portfolio is over $35.66 billion, or 99.4 percent of the total volume of assets, according to the report.
Around 50.5 percent of SOFAZ investment portfolio is placed in securities for a one-year period, 36.2 percent for one to three years, 1.9 percent for three to five years and 1.6 percent for more than five years. Moreover, some 9.8 percent is kept in real estate, assets and gold, the report said.
As of Dec. 31, 2013, around 28.1 percent of the investment portfolio is placed in securities with 'AAA' ratings, 18.2 percent in 'AA', 30.5 percent in 'A', 22.8 percent in 'BBB' and 0.4 percent in other securities. SOFAZ assets cannot be placed in securities with a lesser investment rating.
SOFAZ assets are partially placed in securities, tools of the monetary market such as deposits and bank accounts. Currently, 22.5 percent of the investment portfolio is placed in the bonds of agencies and international organizations, sovereign debt securities- 10.7 percent, financial bonds-10.8 percent, corporate bonds- 35.7 percent, short term commercial securities- 14.4 percent, guaranteed bonds- 5.8 percent and municipal bonds- 0.1 percent.
Around four percent of the investment portfolio is placed in deposits and monetary market tools, gold-3.3 percent, real estate- 1.8 percent and assets-4.1 percent.
The assets of the investment fund were placed as follows: 56.82 percent in European countries, 19.31 percent in North America, 15.7 percent in developing countries, 9.47 percent in the Asia-Pacific Ocean region, 1.5 percent in the Middle East, 5.03 percent in South America and 7.86 percent in international financial organizations.
As of January 1, 2014, SOFAZ assets increased by 5.1 percent compared to early 2013 (34.129.4 billion) and were estimated at $35.877.5 billion.
Translated by NH
Edited by CN
