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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

State Oil Fund of Azerbaijan acquires about 25 tons of gold

Posted on 29 August 2013

As of August 26, 2013, the State Oil Fund of Azerbaijan purchased 24 tons 887 kilograms (800,146 ounces) of gold, the Fund told Trend on Wednesday. The fund began purchasing gold from the first quarter of 2012, and as of July 1, 2013 the amount of the purchased gold amounted to 22 tons 399 kilograms (720,146 ounces).
According to the strategy of the State Oil Fund, five percent of the investment portfolio can be directed towards the purchase of gold. According to plans, the State Oil Fund buys gold in lots, and this process will take place over two years………………………………………..Full Article: Source


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