BAKU, Azerbaijan, October 13. The State Oil Fund of Azerbaijan (SOFAZ) has published the distribution of the investment portfolio according to the results of the third quarter of 2023, SOFAZ told Trend.
It was distributed as follows: 70.3 percent in US dollars, 19.2 percent in euros, 4.9 percent in sterling pounds, and the rest (5.6 percent) in Australian dollars, Turkish lira, Russian rubles, Chinese yuan, Japanese yen, and other currencies.
According to the fund, 61 percent of its asset portfolio consisted of bonds and money market instruments, 22.2 percent were stocks, 5.8 percent were real estate, and 11 percent were investments in gold (101.8 tons).
In the credit rating distribution, 78.8 percent of SOFAZ's assets are invested in AAA rating instruments, and the rest is invested in AA (15 percent), A (8.1 percent), and BBB (3.5 percent) credit rating instruments. Only 0.6 percent of the fund's portfolio is invested in non-investment-grade instruments.
"A total of 28.5 percent of the fund's investment portfolio is invested in Europe, 14.6 percent in the Asia-Pacific region, 36.9 percent in North America, 0.6 percent in Australia and New Zealand, 0.3 percent in the Middle East region, and 7.9 percent in international financial organizations," SOFAZ said.
In addition, 67 percent of the SOFAZ portfolio was invested in developed countries, 14.1 percent in developing countries, 7.9 percent in international financial organizations, and 11 percent in precious metals (gold).