IN RUSSIAN

SOFAZ considering properties in Europe and Southeast Asia for investment

24 July 2012 - 8:32pm

 

State Oil Fund of Azerbaijan (SOFAZ) is considering real estate objects in several European countries and South-East Asia for investment, executive director of the Fund Shahmar Movsumov said at a press conference on the results of activity in the first six months of this year, Trend reports.

"In particular, we consider the objects of real estate in London, Paris, Rome, Moscow, Istanbul, as well as in Singapore, Malaysia and Indonesia," the head of the foundation said.

On the issue of investing in shares, Movsumov noted that, given the risks associated with significant changes in prices observed on global financial markets and stock markets, SOFAZ plans the first investment in shares in September this year.

Some 85 percent of the investment portfolio of the State Oil Fund in 2012 will be formed at the expense of money market instruments and debt market. It is provided by the fund's investment policy for 2012, approved by the President of Azerbaijan.

Up to five percent of the investment portfolio may be invested in shares, five per cent - in real estate, five per cent - in gold, the document says. The maximum amount of the portfolio in stocks is determined in the oil fund's investment policy for the first time during the year, and real estate and gold are the new directions for the investment of the fund.

 

Read also

Sep 19 2014 - 13:12
Moscow Mayor Sergey Sobyanin and some of his deputies and business officials will visit Baku soon to discuss bilateral cooperation and sign a memorandum of Moscow and Azerbaijani governments.
Sep 18 2014 - 13:23
Azerbaijani Ambassador to Russia Polad Bulbulogly said that Russia and Azerbaijan were strategic partners. He reminded that a delegation from Moscow arrived in Baku for a session of an inter-governmental commission to discuss development of relations in the context of the Sochi talks between Russian President Vladimir Putin and his Azerbaijani counterpart Ilham Aliyev. The ambassador expressed readiness to increase exports of fruit, vegetables and meat to Russia.

Archive