| Oil and gas |
SOFAR to invest capital of $600 mln in shares of foreign companies
In September, State Oil Fund of Azerbaijan will start to invest in shares, said the Executive Director Shahmar Movsumov.
According to him, firstly, the investments in shares will be carried out via foreign managers. In relation with this, 2 of well-known companies were selected as foreign managers. These are USB Global Asset Management and state Street Global Advisors Companies.
He noted that, SOFAR intends to invest $ 600 mln in the shares: “These investments will be managed by foreign managers via inactive management methods. MSCI World index was selected as a target for these investments. The investing is planned for September”.