Oil Fund assets topped $14.2 bn by this November

Oil Fund assets topped $14.2 bn by this November

This October assets of the State Oil Fund of Azerbaijan (SOFAZ) grew by over $900 million.
Fund’s executive director Shakhmar Movsumov says that by late October SOFAZ assets reached $14.2 bn.

“As of 31st October SOFAZ’s transfer to State Budget totaled AZN 4.1 bn ($5.1 bn) out of AZN 4.9 bn ($6.1 bn) targeted for 2009,” Mvsumov said.

As of 1st October 2009 Fund’s assets were $13.337 bn.

“As of 31st October 2009 Fund’s revenues from assets management made up AZN 595 million against the forecast of AZN 211.4 million for this year,” he emphasized.

All the SOFAZ finances are placed abroad.