| Azerbaijan’s state oil fund SOFAZ has no plans to increase its gold reserves in 2016, a source in the Fund told Trend. Currently, SOFAZ’s gold reserves portfolio includes 30,175 kilograms of gold, which accounts for about 3.5 percent of total assets.
“Under SOFAZ’s funds management rules, the portion of gold reserves in total assets shouldn’t exceed the five percent limit of the fund’s investment portfolio,” the source said, adding that the issue is not in the agenda of the Fund. The Fund recently started investing in real estate funds, as the share of investments that can be made in real estate has been increased from 5 to 10 percent...............................................Full Article: Source
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