home . news & publications . Investment News . SOFAZ not Affected by Brexit - Executive Director

SOFAZ not Affected by Brexit - Executive Director

Investments of State Oil Fund of Azerbaijan (SOFAZ) in pound sterling remained unchanged after Brexit referendum, SOFAZ Executive Director Shahmar Movsumov said. He said SOFAZ was not affected by Brexit.

"The main reason for investing 5% of the portfolio in pounds sterling is diversification. We are attaching great importance to it. We save our money in different currencies for the portfolio not to be affected by the changes. Many people say the pound sterling devalued. However, if the pound sterling devalued, it means other currency overvalued. Here we mean dollar. Fifty percent of our portfolio is at USD. Thus, the portfolio overvalued 50%. Therefore, we do not take into account the relative volatility", the SOFAZ executive director said.

Source: APA

Back to top

subscribe

events view our upcoming events.

network follow us.



   facebook  linkedin  twitter

 bp
anglo-asian ata-holding
azpetrol statoil
bny_melon azertrans
chevron_logo conocophillips
  ibar exxonmobil
 solar-turbines boeing-logo-website
 
  
 
           
        
   
 
 
         pg
    ekvitasocaraqs            
          ge