23.11.2015 - SOFAZ to cut investing in shares on U.S. stock markets
Azerbaijan's state oil fund SOFAZ, an entity that accumulates and manages the country’s oil and gas revenues, plans to reduce investing in shares on the U.S. stock markets. This was announced by Elnur Babayev, the representative of SOFAZ's investment department, at a workshop for journalists entitled "State Oil Fund of Azerbaijan: managing of funds and investments." He said that SOFAZ will redirect these investments to the shares on the European stock markets. "The reason for SOFAZ’s such a decision was the expected increase in the interest rates in the U.S.,” he said...............................................Full Article: Source
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