The State Oil Fund of Azerbaijan (SOFAZ) still prefers to place the bulk of assets in US dollars, the share of assets in US currency is 69.9%, the Fund’s data.
By March 31, 2023, SOFAZ’s assets amounted to $53 billion 438 million, of which the amount equivalent to $0.41 million in Azerbaijani manats, the rest in other currencies.
The investment portfolio of the State Oil Fund as of the end of March 2023 is $53 billion 437.21 million.
At the same time, 69.9% of the investment portfolio is placed in US dollars (by the end of 2022 – 68.6%), 19.4% – in euros (by the end of 2022 – 20.4%), 4.8% – pounds sterling (5.2%), 0.6% – Australian dollars (0.6%), 0.3% – Turkish lira (0.4%), 0.2% – Russian rubles (0.3%), 1% – Chinese yuan (1.1%), 1.4% – Japanese yen (1.3%), 2.4% – other currencies (2.1%).
According to the data, 61% of the fund’s investment portfolio is placed in bonds and money market instruments (at the end of 2022 – 62.1%), 21.1% – stocks (at the end of 2022 – 19.6%), 5.7% – real estate (at the end of 2022 – 6.2%). The share of gold is 12.1% (at the end of 2022 – 12.1%), which is equivalent to 101.8 tons (at the end of 2022 – 101.8 tons).
According to the fund, 96.2% of SOFAZ funds are placed in highly rated assets A, AA, and AAA.
According to the Oil Fund, 35.8% of SOFAZ’s investment portfolio is located in North America, 28.7% – in Europe, 15.1% – in the Asia-Pacific region, 0.1% – in South America, 0.3% – in the Middle East, 0.6% – in Australia and New Zealand, 7.3% – in international organizations, in gold – 12.1%.
In March 2023, SOFAZ sold foreign currencies at currency auctions totaling $383.9 million. In February, this figure was $356.6 million. In general, in the first quarter of 2023, the Sum Oil Fund sold foreign currency in the amount of $929 million through auctions (a decline of 42.8% compared to the first quarter of 2022). It should be noted that the Oil Fund was established in December 1999, and started its practical activity in June 2001.
The Oil Fund of Azerbaijan accumulates income from the implementation of oil and gas contracts, in particular from the sale of profitable oil and gas of the state, transit tariffs for the transportation of oil and gas through the country, from the lease of state property, etc.
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