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Sovereign Wealth Funds Briefing - Categorized | Market

Fitch revises Azerbaijan’s outlook to positive

Posted on 18 May 2011

Assets of the State Oil Fund of Azerbaijan (SOFAZ), the sovereign wealth fund, increased by USD7.9bn to USD22.8bn (44% of GDP) at end-2010, and by a further USD3bn in Q111.
Sovereign net foreign assets, which also incorporate Central Bank of Azerbaijan (CBAR) reserves, reached 49% of GDP, ahead of Kazakhstan (’BBB-’/Positive) and Russia (’BBB’/Positive) in GDP terms and second only to Thailand (’BBB’/Stable) in the ‘BBB’ category……………………………………….Full Article: Source


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