SOFAZ earned 5% from shares portfolio last year

Baku. 29 March. REPORT.AZ/ The profitability of the State Oil Fund of Azerbaijan (SOFAZ) for investments in shares was 4.96% in 2016.

Report informs referring to SOFAZ, last year the share portfolio was equal to 9.24% of the total investment. Thus, the fund earned 173 million USD on shares portfolio.

Total revenues of SOFAZ amounted to $636 million in 2016. The return on equity is 27% of total revenue. Notably, SOFAZ plans to increase investments in shares in total investment portfolio to 15% (previous limit is 10%).

The portfolio of SOFAZ shares includes indices of more than 1,600 large companies in 24 countries, which indicates the diversification of shares. These include the indexes of MSCI World, MSCI Europeex-UK and S&P100, as well as strategic stake in VTB Bank (Russia).

Notably, investment portfolio of the fund as of January 1, 2016 amounted to $33,574 million, as of January 1, 2017 - $ 33,147 million.