SOFAZ considering properties in Europe and Southeast Asia for investment

 

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.

 

1415 views


More Azerbaijan News

President Ilham Aliyev phones Hassan Rouhani

President Ilham Aliyev phones Hassan Rouhani

On May 29, President of the Republic of Azerbaijan Ilham Aliyev made a phone call to President of the Islamic Republic of Iran Hassan Rouhani, Trend reports. The head of state congratulated Hassan …

Azerbaijani Foreign Minister to visit Hungary

Azerbaijani Foreign Minister to visit Hungary

Azerbaijani Foreign Minister Elmar Mammadyarov will visit Hungary in July this year, Hungary’s Ambassador to Azerbaijan Imre Laszloczki said. During the meetings Mammadyarov will also discuss the …

Azerbaijani army holds massive live-fire drills (VIDEO)

Azerbaijani army holds massive live-fire drills (VIDEO)

Видео

Rocket and artillery units of the Azerbaijan’s Armed Forces are holding live-fire drills, the country's Defense Ministry said in a message. Under the Armed Forces preparation plan for 2017, the exercises of rocket and …

Mehriban Aliyeva and Leyla Aliyeva attend celebration of Republic Day at ADA University

Mehriban Aliyeva and Leyla Aliyeva attend celebration of Republic Day at ADA University

Joint event of the National Academy of Aviation and the ADA University was held in Baku yesterday to celebrate the Republic Day. First Vice-President Mehriban Aliyeva, Vice President of the Heydar Aliyev Foundation …

SP affirms sovereign credit ratings of Azerbaijan at #039BB+/B#039

S&P affirms sovereign credit ratings of Azerbaijan at 'BB+/B'

Standard & Poor’s Global Ratings in its recent extraordinary assessment has affirmed long- and short-term foreign and local currency sovereign credit ratings of the Republic of Azerbaijan at 'BB+/B’, Trend reports. …

Moscow marks 99th anniversary of Azerbaijani Democratic Republic

Moscow marks 99th anniversary of Azerbaijani Democratic Republic

Moscow is hosting a traditional solemn event dedicated to the Azerbaijani Republic Day, which is celebrated every year on May 28, as Azerbaijan declared its independence establishing the Azerbaijan Democratic Republic on May 28, 1918. The …

Jeyhun Bayramov: Work with gifted children is one of Ministry of Education#039s priorities

Jeyhun Bayramov: "Work with gifted children is one of Ministry of Education's priorities"

Azerbaijani Deputy Minister of Education told Vestnik Kavkaza on the state support of the winners of the Olympiad

US State Department energy official to visit Baku

US State Department energy official to visit Baku

Deputy Assistant Secretary for Energy Diplomacy, US Department of State Robin Dunnigan will visit Azerbaijan, the US Embassy in Azerbaijan said. Dunnigan will lead a US delegation during the annual international …

Ilham Aliyev and Mehriban Aliyeva attend official reception on occasion of Azerbaijani Republic Day

Ilham Aliyev and Mehriban Aliyeva attend official reception on occasion of Azerbaijani Republic Day

Azerbaijani President Ilham Aliyev and first lady Mehriban Aliyeva have attended an official reception on the occasion of the Azerbaijani Republic Day at the Buta Palace. The national anthem …

Mammadyarov: Baku committed to Nagorno-Karabakh conflict#039s political settlement

Mammadyarov: Baku committed to Nagorno-Karabakh conflict's political settlement

Baku is committed to the political settlement of the Nagorno-Karabakh conflict on the basis of the principles of sovereignty, territorial integrity and inviolability of international borders, Azerbaijani Foreign Minister Elmar …

more Azerbaijan News