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.

 

505 views


More Azerbaijan News

Azerbaijan and US may carry out joint military exercises

Azerbaijan and US may carry out joint military exercises

Azerbaijan and the US have a lot of spheres where they can strengthen cooperation, the commanding general of the US Army Europe, Lt. Gen. Ben Hodges told reporters in Baku on May 26th. …

Azerbaijan ready for comprehensive, substantive talks on Karabakh conflict

Azerbaijan ready for comprehensive, substantive talks on Karabakh conflict

Azerbaijan is ready for comprehensive and substantive talks on resolving the Nagorno-Karabakh conflict, Hikmet Hajiyev, spokesman for Azerbaijan's Foreign Ministry, told Trend on May 26th. Azerbaijan's Foreign Minister Elmar …

Azerbaijan’s SOCAR drilling new well in Caspian Sea

Azerbaijan’s SOCAR drilling new well in Caspian Sea

The Integrated Drilling Trust of Azerbaijan's State Oil Company (SOCAR) has started to drill a new well at the Bulla Deniz offshore field, read a message posted on SOCAR's website. …

 Russian Foreign Ministry: we working at different tracks, while solving Nagorno-Karabakh conflict

Russian Foreign Ministry: we working at different tracks, while solving Nagorno-Karabakh conflict

The Russian Foreign Ministry spokesperson, Maria Zakharova, said that Russia continues its work as part of the OSCE Minsk Group and keeps in contact with the Nagorno-Karabakh conflict sides. "We are quite active in …

 Pashazade: Sunnis and Shiites to celebrate Ramadan together in Azerbaijan

Pashazade: Sunnis and Shiites to celebrate Ramadan together in Azerbaijan

The Chairman of the Caucasian Muslims Office, Sheikh-ul-Islam Allahshukur Pashazade, expressed concern over the possibility of disagreement among Azerbaijani Muslims in connection with the fact that some people bring wrong …

 Commander of US Army in Europe arrives in Baku

Commander of US Army in Europe arrives in Baku

The commander of the US Army in Europe, Lieutenant General Ben Hodges, arrived in Baku, the US Embassy in Baku said. "Hodges will hold a number of high level bilateral meetings, where the sides will discuss …

Ramadan to start in Azerbaijan on June 7

Ramadan to start in Azerbaijan on June 7

The Caucasian Muslims Office has issued a fatwa on the beginning of the Islamic holy month of Ramadan. According to the fatwa, this year the first day of the month of Ramadan will fall on June 7, while festive prayer (namaz) will be …

 Sergey Markov: Azerbaijanis, Armenians and Georgians are Russian compatriots

Sergey Markov: Azerbaijanis, Armenians and Georgians are Russian compatriots

First of all, the South Caucasus means millions of compatriots for Russia: Azerbaijanis, Armenians and Georgians are still perceived as such by Russian people, the director of the Institute of Political Studies, a prominent political scientist …

Vugar Gashimov chess memorial opens in Shamkir

Vugar Gashimov chess memorial opens in Shamkir

The Vugar Gashimov Memorial opened today in Azerbaijan. It will be held at the Heydar Aliyev Center in Shamkir. The memorial will be held in Shamkir for the third time, it is dedicated to the memory of famous …

Journalist Khadija Ismayilova released

Journalist Khadija Ismayilova released

The Supreme Court of Azerbaijan made a decision on May 25th to release journalist Khadija Ismayilova, Trend reports. A cassation appeal by Ismayilova was considered by the Supreme Court, under the chairmanship of Judge …

more Azerbaijan News