SOFAZ reduces share of AAA-rated financial instruments in investment portfolio

By the end of 2023, 68.1% of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) on bonds and other money market instruments was rated AAA, which is 5.6 percentage points less than at the end of 2022.

Report informs that SOFAZ increased the specific weight of AA-rated instruments from 14.8% to 16.6% and the A-rated instruments from 8% to 8.6%.

During the reporting period, the share of BBB-rated instruments in the Fund's investment portfolio was increased from 2.8% to 6.5%, and non-investment-grade instruments were reduced from 0.6% to 0.2%.