SOFAZ cuts investment in Europe

At the end of the first quarter of 2022, the share of European countries in the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 28%, which is one percentage point less than in the first quarter of 2021.

According to Report, the share of Asia-Pacific countries decreased from 23.8% to 21.1% during the quarter.

In the first quarter of this year, the Fund's investment portfolio increased the share of the North American region from 25.89% to 28.9%, while the percentage of Australia and New Zealand fell from 1.14% to 0.8%.

The share of the Middle East region decreased from 1.29% to 0.6%, while the South American region rose from 0.04% to 0.1%. In addition, the share of the African region in investment has not changed (0.1%).

In the first quarter of this year, the share of developed countries in SOFAZ investments fell from 59.47% to 57.7%, developing countries rose from 21.7% to 21.9%, and international financial institutions climbed from 5.98% to 6.5%.

The remaining 13.9% belongs to gold. At the end of the first quarter a year ago, this figure was 12.9%.