SOFAZ Assets in Manats only 3.8%

From January to October, the assets of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $ 34 billion 738,100,000. Almost half of this ($ 16 billion 544.6 million or 47.8%) is located in US dollars. For comparison, in the national currency there was posted the equivalent of $ 133.5 million, or 3.8% of total assets.

The euro makes 35.9%, GBP is 5% and gold is 3.2%, the rest is unimportant. It may be noted the Japanese yen - 1.5%, as well as the yuan and the Russian ruble - by 1.4%, the South Korean won - 1.2% and the Turkish lira - 1%.

By October 1, 44% of the Fund's investment portfolio are available on the corporate sector, 19.2% - financial bonds, 12.5% - bonds of agencies and international organizations, 9.3% - short-term commercial papers, the rest - other instruments.

Accommodation by region - 57.54% of the investment was invested in Europe, 22.65% - in North America, 11.12% - in the Asia-Pacific countries, and so on. Most of the investment portfolio (81.6%) is in bonds and deposits, 7% - in shares, 4.3% - in real estate, 3.2% - in gold, 2.2% - in investment projects, 1.7 % - in money market instruments.

SOFAZ has been nominally valid from December 29, 1999 as non-budgetary entity subordinate to the President. It should accumulate income from the sale of oil contracts, but from year to year a large part of its expenditures account for the transfers to the state budget. --17D-