Manat Makes 1.1% in SOFAR Investment Portfolio

The share of the national currency in the investment portfolio of the State Oil Fund of Azerbaijan (SOFAR), as of January 1 this year, was 1.1% for the equivalent of $ 407.9 million. The aggregate amount is $ 37 billion 148, 3 million.

According to the information of the main donor of the state budget, funds are kept mainly in US dollars. The rest of the money ($ 36 billion 740.3 million) is "scattered" as follows: $ 19 billion 869,600,000 or 54.1% is in US dollars, 33.9% - in Euros, 4.8% - in GBP, 0.5% - in Australian dollars, 1.2% - in the Turkish lira, 1.2% - in Russian rubles, 1.2% - in the South Korean won, and 3.1% - in gold.

The breakdown of financial instruments is as follows: 45.9% of the Fund's investment portfolio is available in the corporate sector, 15% - in bonds of agencies and international organizations, 19.2% - in financial bonds, 8.1% - in short-term commercial papers, while other instruments are insignificant.

As for the geography, 51.75% of the investment portfolio of SOFAR is located in Europe, 24.04% - in North America, 13.54% - in the Asia-Pacific region, and the rest - in other regions.

The largest share (80.6%) of the investment portfolio accounts for bonds, 6.9% - for attracted deposits, 5.4% - for shares, 3.1% - for gold, 2.9% - for real estate, and 1.1 % - for investment projects.

The total return on assets of SOFAR for the year amounted to 1.43% (excluding gold - 1.47%), including bond yields - 0.7%, shares - 0.35%, deposits - 0.18%, money market instruments - 0.01%, and real estate - 0.24%.

As reported, the State Oil Fund was established by a presidential decree of 29 December 1999 and is the budget state institution reporting to the Head of State. The Fund accumulates income from the sale of oil contracts, in particular, income from the sale of profit oil and gas of the state, transit tariffs for transportation of oil and gas across the country, income from the lease of state property, and others. --17D-