SOFAZ to invest Russian Economy

SOFAZ to invest Russian Economy The State Oil Fund of Azerbaijan has addressed the Federal Antimonopoly Service of Russia in order to get initial agreement for closing deal on purchase of 100% shares of Tverskaya 16 OJC, in Moscow. Authorized capital of the OJSC makes 159.8 mln rubles (AZN 4 mln) and its only share is Aktyor gallery, located on Tverskaya 16, Moscow. Brokers estimate the building at $100-105 mln. According to information, currently,... Read More

SOFAZ’s Tardy Investment Policy

SOFAZ’s Tardy Investment Policy Vugar Bayramov: “ SOFAZ’s investment policy is not flexible” The State Oil Fund of Azerbaijan (SOFAZ) intends to invest in commercial real estate in London, Paris, Rome, Istanbul and Moscow and is planning to increase its holdings in gold. As we know, an economic crisis has covered Western Europe. Due to the crisis, price drops have occurred erratically and unpredictably. Likewise, the dollar and especially... Read More

SOFAZ’s “Gold Policy”?

SOFAZ’s “Gold Policy”? CESD; “SOFAZ too late with investing in gold” The State Oil Fund of the Azerbaijan Republic (SOFAZ) reported that the fund has started to invest in gold in order to diversify its portfolio and increase revenue. According to the Oil Fund’s Investment Policy, 5% of the investment portfolio’s total value in 2012 can be invested in gold.  To this end, from 1 February 2012, the fund began to purchase gold... Read More