28.10.2015 - Azerbaijan Oil Fundís investment portfolio exceeds limit for 2015 by 28.7%
By 1 October 2015 the State Oil Fund of Azerbaijan (SOFAZ) exceeded the limit of investment portfolio (AZN 28.2 bn) for 2015 by 28.7%. The Fund reports that its investment portfolio in manats, as a base currency, grew by 26% from AZN 28.79 bn up to AZN 36.28 bn for the past 3 quarters. Over the 3 rd quarter the decline totaled AZN 1.176 bn or 3.1%. By 1 October the Fundís investment portfolio was estimated at $34.6 bn. The main directions (investment program) of SOFAZ money spending for 2015 are to pursue investment policy aimed at obtaining the highest possible income with minimum risk of losing assets. Fundís investment portfolio for 2015 is limited to AZN 28.2 bn. The Fund is allowed the following currency structure: 50% of finances in US dollars, 35% in euro, 5% in pounds of sterling and the remaining 10% in other currencies...............................................Full Article: Source