Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Azerbaijan’s State Oil Fund Assets Grew 0.6% in First Quarter

Don't Miss Out —
Follow us on:

April 15 (Bloomberg) -- Azerbaijan’s State Oil Fund, known as Sofaz, expanded its assets 0.6 percent to $34.3 billion as of April 1 from the end of last year.

Sofaz’s gold holdings have increased to 18.4 metric tons by the end of the first quarter, according to an e-mailed statement today from the fund, which was established in 1999 in Baku, the Azeri capital, to manage the Caspian Sea nation’s income from the sale of oil and natural gas.

The fund started investing in gold, as well as in the Australian dollar, Russian ruble, Turkish lira and real estate last year to diversify holdings. It plans to increase its gold reserves to 30 tons by the end of the year.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.