BAKU, Azerbaijan, January 16. The currency investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $56.06 billion in 2023, SOFAZ told Trend.
The company's portfolio was distributed as follows: 67.5 percent in US dollar, 21.2 percent in euro, 5.3 percent in sterling pound, 0.7 percent in Australian dollar, 0.2 percent in Turkish lira, 0.2 percent in Russian ruble, 1.4 percent in Japanese yen, one percent in Chinese yuan, and 2.5 percent in other currencies.
The fund's data showed that 57.7 percent of its asset portfolio consisted of bonds and money market instruments, 24.3 percent were stocks, six percent were real estate, and 12 percent were investments in gold (101.8 tons).
In the credit rating distribution, 68.1 percent of SOFAZ's assets were invested in AAA rating instruments, and the rest in AA (16.6 percent), A (8.6 percent), and BBB (6.5 percent) credit rating instruments. Only 0.2 percent of the fund's portfolio was invested in non-investment-grade instruments.
"A total of 30.5 percent of the fund's investment portfolio was invested in Europe, 14.8 percent in the Asia-Pacific region, 32.7 percent in North America, 0.7 percent in Australia and New Zealand, 0.3 percent in the Middle East region, and 8.8 percent in international financial organizations," SOFAZ said.
Additionally, 64.8 percent of the SOFAZ portfolio was invested in developed countries, 14.4 percent in developing countries, 8.8 percent in international financial organizations, and 12 percent in precious metals (gold).
Previously, as of December 31, 2022, the portfolio amounted to $49.03 billion.