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Sovereign Wealth Funds Briefing - Categorized | Investment

Azerbaijan State Oil Fund invests almost only in fixed income assets

Posted on 07 November 2013

As part of its investment policy the State Oil Fund of Azerbaijan (SOFAZ) gives preference to fixed-income assets. The report on Fund’s activity for the first 3 quarters of 2013 says that SOFAZ kept 85.4% of its portfolio in fixed income assets. Another 6% of the portfolio is placed on deposits and money market instruments. 3.6% of the Fund’s portfolio account for stocks, gold - 3.2%, real estate - 1.8%.
At that, bonds are dominating among the fixed income assets. The advantage here belongs to corporate bonds (31.6%) and bonds of agencies and supranationals (23.4%). At that, financial bonds form 11% and covered bonds - 5.8%. Sovereigns make up 10.5% of Fund’s portfolio and municipal bonds 0.1%. 17.6% of the portfolio accounts for medium-term commercial papers………………………………………..Full Article: Source


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