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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

SOFAZ pursues gold

Posted on 19 September 2012

The State Oil Fund of Azerbaijan (SOFAZ) — whose assets totaled $32.67 billion as of July 1 — has purchased 10 tons of gold, Executive Director of the Fund Shahmar Movsumov has revealed to the Azeri-Press Agency (APA).
“We’ve also applied to the Cabinet Ministers with a proposal to introduce a zero rate of customs duties…on import of gold purchased abroad in the country. So far the fund has bought around 10 tons of physical gold,” Movsumov said………………………………………..Full Article: Source


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