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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

SOFAZ may restructure its currency portfolio

Posted on 30 May 2013

The state oil fund SOFAZ — an entity that accumulates and manages Azerbaijan’s oil and gas revenues — has announced that it is interested in restructuring its currency portfolio. SOFAZ Head Shahmar Movsumov said that the fund is considering the inclusion of Yuan in its currency portfolio.
However, Movsumov said there are certain “problems of institutional nature” with the issue of investing in the Chinese currency, as China has very strict investment conditions, which are currently being considered by the state oil fund………………………………………..Full Article: Source


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