| The State Oil Fund of Azerbaijan (SOFAZ) has called the euro the most successful investment in 2014. SOFAZ reports that last year its investments in euro (EUR 10.25 bn or 33.9% of assets) ensured for it 10.04% of yield in base currency, including 8.57% from currency difference.
At that, the operations in the base currency, the U.S. dollar, were unprofitable (-2.79%), including losses from exchange rate difference (-4.27%). The Fund kept $19.869 bn or 33.9% of its assets in the American currency. Assets in the British currency were estimated at 1.159 bn pounds (4.9% of all assets) and in the Australian currency- $214.9 (0.5%)...............................................Full Article: Source |