08.05.2012 - State Oil Fund of Azerbaijan announces a 4-fold drop in yield of asset placement
The State Oil Fund of Azerbaijan (SOFAZ) has announced a 4-fold drop of yield in its assets placement. SOFAZ executive director Shahmar Movsumov stated in an interview with newspaper Respublika, the official organ of the Cabinet Ministers of Azerbaijan, that in 2005-9 yield in Fundís assets placement was at 3.69% and in 2010-11 it dropped to 0.91%. "As a result, after changing the investment strategy, in 2012 the Fund was allowed to invest up to 15% of its assets in equities, gold and real estate. Currently SOFAZ started investing in physical gold, and during this year it will start investing in real estate," Movsumov said...............................................Full Article: Source
Print