Azerbaijan’s Oil Fund transferred 11.4% of investment portfolio for management by foreign managers

11.4% of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) is managed by foreign investors, Fineko/abc.az reports.

The SOFAZ annual report says that use of services, particularly the use of knowledge and skills, and foreign managers on management of SOFAZ finances, is important from angle of application of best international practices in this area.

"In particular, $228 million or 0.6% of assets are run by the World Bank, $104 million or 0.0.3% by Deutsche Bank Advisors, $1.598 bn or 4.5% by UBS Asset Management, $1.49 bn or 4.2% by State Street Global Advisors (SSgA), $332 million or 0.9% by Mellon Capital Management, and $315 million or 0.9% by BlackRock Investment Management.

News.Az

News.Az