Only 0.0015% of SOFAZ Investment Portfolio - in Manat

Only $ 57.1 million assets of the State Oil Fund of Azerbaijan (SOFAZ) are placed in Azerbaijani manat (total assets - $ 37 783 300 000).

According to the report of the main supplier of the state budget, its total investment portfolio at the end of the first half-year was $ 35 billion 726.2 million. Slightly more than half of them (50.1%, or $ 17 billion 889.1 million) was placed in US dollars. Just over a third (34%) is located in euros, 5.1% - in pounds sterling, 0.6% - in Australian dollars, 1.1% - in Turkish liras, 1.8% - in Russian rubles, 1.2 % - in South Korean wons, 1.4% - in Chinese yuans, 1.5% - in other currencies, and 3.2% - in gold.

The largest share of accommodation (44.1%) of the investment assets of the portfolio is in corporate securities, 20.1% - in financial bonds, 11.9% - in the bonds of agencies and international organizations, 11.8% - in short-term commercial papers, etc.

Talking about the geography, the primacy of the investment portfolio (57.28%) is for the countries of Europe, 24.03% - North America, 8.59% - Asia Pacific, and the rest - for the other regions.

About four-fifths (79.9%) of the investment portfolio is placed in bonds and deposits, 7.7% - in shares, 4.3% - in money market instruments, 3.2% - in gold, 2.9% - in real estate, and 2% - in investment projects.

SOFAZ is an off-budget state institution accountable only to the President. It should accumulate income from the sale of oil contracts, in particular, from the sale of profit oil and gas of the state, transit tariffs for the transportation of oil and gas on the territory of the country, from the lease of state property and so forth. Since 2006, its resources have been the main (average, 55 %) replenishment of the profitable part of the state budget. --17D-