Azerbaijan, Baku, Feb. 11 / Trend A. Akhundov /
About 85 percent of the total cost of SOFAZ's investment portfolio for 2012 will be formed by money market instruments and debt liability market. This is envisaged by the investment policy for 2012 approved by the president.
Up to five percent of the investment portfolio may be invested in stocks, up to five percent in real estate, and up to five percent in gold, the document says. The maximum amount that can be invested in stocks has been set for the first time this year. Gold and real estate
are new directions for the fund's investments.
The projected total cost of the investment portfolio for 2012 is set at 23 billion manat, while at the end of 2011 it is predicted to reach 19.4 billion manat.
The currency structure is set as follows: 50 percent of the assets can be placed in U.S. dollars, 40 percent in euros and five percent in pounds. The remaining five percent may be in G-7 currencies.
The official exchange rate is 0.7863 AZN/USD on Feb. 13