18.07.2013 - SOFAZ testing waters in asset diversification
The US$ 34.1 billion State Oil Fund of Azerbaijan (SOFAZ) embarked on a path to diversify asset holdings. From 2011 to 2012, SOFAZís assets grew by 14.5%. The Central Asian sovereign fund expanded their investment policy to permit investments in gold bullion and institutional real estate. Up to 5% of SOFAZís assets can be allocated to gold. With regard to institutional real estate, SOFAZ made a number of property transactions in major European cities. Some notable purchases include 78 St. James Street in London and the Actor Gallery in Moscow...............................................Full Article: Source
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