Oil Fund comments on situation regarding coronavirus

Oil Fund comments on situation regarding coronavirus
  • Clock-gray 16:46
  • calendar-gray 27 February 2020

The investments of the State Oil Fund of Azerbaijan Republic (SOFAZ) in the assets expressed in the Chinese yuan till the end of 2019 equaled to 3.5 bln. yuans, said in a statement Israfil Mammadov, the SOFAZ’s executive director, “APA-Economics” reports citing Azertag.

 

While commenting on the situation regarding the coronovirus (COVID-19) which started to spread in China, I. Mammadov noted that the measurement of profitability of the SOFAZ resources is conducted separately for each currency in which the assets in the portfolio are expressed, at the same time the calculation of profitability of the whole portfolio also implemented in accordance with share in portfolio of the value of investments made in relevant currencies. The main indicator of profitability of the currency resources of the Fund is just the incomes obtained as a result of change of value of coupon from the assets (dividend, rental fee), as well as the value of the fixed capital.

Emil Ismayilov

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