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Sovereign Wealth Funds Briefing - Categorized | Financials

Azerbaijan’s Oil Fund compensates investment losses from Ukrainian crisis

Posted on 22 July 2014

The State Oil Fund of Azerbaijan (SOFAZ) has overcome the negative effects of the crisis around Ukraine. SOFAZ reports that in the 1st quarter the Fund had investment losses on shares of Russian companies, relating to the events around the Ukraine and in the 2nd quarter the Fund received revenue of AZN 118.8 million from asset management.
As a result, SOFAZ revenues for the first half of 2014 amounted to AZN 6.49 bn and expenditures AZN 5.16 bn, i.e. the budget was implemented with an actual surplus of AZN 1.3 bn………………………………………..Full Article: Source


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