Investments by SOFAZ in money market funds increased by 70%

Baku. 13 June. REPORT.AZ/ The volume of investments by the State Oil Fund of Azerbaijan (SOFAZ) in money market increased by 70% last year and as of January 1 this year amounted to 1 9707 mln. AZN.

Report informs, this is stated in audit report prepared by Fund’s "PWC Azerbaijan" company.

According to the report, 1 961,9 mln. AZN (71% increase) invested in money market fund "BlackRock Liquidity Funds plc Institution ICS" with credit ratings of AAA while, 8,8 mln. AZN (42% decrease) in “The Goldman Sachs Group, Inc”.

Notably, investments in money market funds have high liquidity. These funds send their assets to short-term debt obligations, for example, commercial securities, certificates of deposit, treasury bills, etc. Interest and dividends paid to the fund are again directed to investments.