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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Asset Allocation

Azeri State Oil Fund to boost gold holdings by third next year

Posted on 27 September 2013

Azerbaijan’s State Oil Fund plans to increase its gold holdings by a third next year as the largest crude producer in the former Soviet Union after Russia and Kazakhstan seeks to diversify its reserves.
The fund, known as Sofaz, will buy 10 metric tons of bullion in 2014 after reaching its previous target of 30 tons by the end of this year, Executive Director Shahmar Movsumov told reporters today in Baku, the Azeri capital………………………………………..Full Article: Source


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