BAKU, Azerbaijan, April 22. The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has released information on the geography of investment portfolio allocation ($57.373 billion) at the end of the first quarter of 2024, Trend reports.
"30.3 percent of the fund's investment portfolio is invested in Europe, 14.4 percent in Asia-Pacific, 33.1 percent in North America, 0.7 percent in Australia/New Zealand, 0.1 percent in the Middle East region, and the rest in international financial organizations and gold," the report of SOFAZ reads.
Meanwhile, 65 percent of SOFAZ's investments are in developed countries, 13.8 percent in developing countries, 8.8 percent in international financial organizations, and 13.2 percent in precious metals (gold).
By the end of 2023, 30.5 percent of the fund's investment portfolio was invested in Europe, 14.8 percent in Asia-Pacific, 32.7 percent in North America, 0.7 percent in Australia/New Zealand, 0.3 percent in the Middle East region, and 8.8 percent in international financial organizations.
Approximately 64.8 percent of SOFAZ investments were invested in developed countries, 14.4 percent in developing countries, 8.8 percent in the share of international financial organizations, and 12 percent in precious metals (gold).
To note, SOFAZ has been operating since December 1999 and accumulates Azerbaijan's revenues from the implementation of international oil and gas contracts.
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