OREANDA-NEWS. July 25, 2011. The State Oil Fund of Azerbaijan (SOFAZ) gives preference to investments in Europe.

The SOFAZ reports as of 1 July 67.11% of its investments will be carried out in Europe. North America accounts for 13.99% of investments, developing countries for 7.6% and international financial institutions for 6.11%.

SOFAZ investment portfolio exceeded USD 30.348 bn or 99.97% of assets (over USD 30.357 bn) by the reported date. SOFAZ investment portfolio composed U.S. currency for USD 16.544 bn, European currency for 8.471 bn, British currency for 939 million pound sterling and Azerbaijani currency for USD 9.22 million.