Over the last month the rent of overseas property of SOFAR exceeds $ 1 million

Revenues State Oil Fund of Azerbaijan (SOFAR) from last year's lease of the Russian and British investment property amounted to the equivalent of 857 thousand manats (about $ 1.1 million). In fact, this monthly income, as the acquisition was made at the end of 2012.

According to the  State Oil Fund (http://www.oilfund.az/uploads/annual_2012az.pdf) on  the activity for 2012 financial year, in particular, from the rental of retail and office center "Gallery Actor" in Moscow the  Fund  got  revenues of $ 234 thousand manats. Revenue Fund from the rental office complex in west London were 623,000 manats. Both facilities are available for rent on a lease.

The day before (http://www.oilfund.az/uploads/Presentation-az_2013_07.pdf) reported that the investment portfolio is dispersed around the world. Europe   ranks first place with a weight 56.2%, the share of developing countries accounts for 15.2% (do not know what is in store) in North America is concentrated 14.4%. In addition, 7.2% of the investments are concentrated in the State Oil Fund of the international financial institutions in the countries of Asia and the Pacific - 6.4%, and the Middle East - 0.7%.

Total investment portfolio is  supplemented by short-term (one year) securities - 54% , the turnover of the Central Bank from  one to three years  is  33.3%, medium-term securities from 3 to 5 years - 2.8% and long-term (over 5 years) - 1.8%. The share of stocks, gold and real estate in the investment portfolio of the State Oil Fund  is 8.1%.

The Fund, as well as the government as a whole,   focuses  promising investment on the Asian region and Australia. In particular, according to the structure itself, the possibility of acquisition of commercial real estate in China, South Korea and Australia is considered. The corresponding decision  with approximate cost of $ 1 billion will probably be made by the head of state in the second half of this year.

Previously  it was reported,  that in December last year, the Fund made the first real estate investment by purchasing an office complex worth $ 177.35 million British pounds sterling in London's West End on St James's Street, 78,  and a set of real property consisting of offices and facilities for trade, in Paris at the Vendome Square, eight for 135 million euros.

Almost  in parallel  the Fund acquired for $ 133 million retail and office center "Actor Gallery," located in the center of Moscow at Tverskaya 16. An object with total area of ​​18 thousand square meters is located in the historical center of Moscow. The estimated annual rental income  is  $ 9.5 million

In the Oil Fund of Azerbaijan, created in December 1999, the accumulated income from the  implementation of oil contracts, in particular from the sale of profit oil state, transit tariffs for the transportation of oil and gas across the country, the rental of state property, etc.

SOFAR assets  for April 1 totaled $ 34 billion 325.7 million.--0--


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