SOFAZ increases its investments in developed countries

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) announced the division of its investment portfolio as of July 1 of the current year based on the development levels of countries, Azernews reports, citing the Fund.

This distribution was 65.3% for developed countries, 12.3% for developing countries, and 7.6% for international financial organizations.

It should be noted that the remaining portion of the investments (14.8%) was allocated to gold.

As of April 1, these figures were 65% for developed countries, 13.8% for developing countries, 8% for international financial organizations, and 13.2% for gold.

As of January 1 of this year, the value of investment property of SOFAZ was 1 billion 536,719 million manats.

By the end of last year, the investment property of SOFAZ was 1.6% of its assets. This rate was 1.9% by the end of the previous year.