State Oil Fund of Azerbaijan
|Azerbaijan||US$ 37.3 Billion||Origin: Oil|
Transparency Rating: 10
View Sovereign Fund Transaction Data
|Firm Investment Style: Mostly Portfolio
Entity Structure: Fund
Population Est.: 9.4 million – 2013
Wealth Per Capita Est.: $3,894
24 Neftchilar Avenue, Dalga Plaza
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a sovereign wealth fund located in Azerbaijan.
Background on SOFAZ
Located in the port city of Baku, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was established in December 29, 1999 in accordance with the Decree of Heydar Aliyev, the former President of the Republic of Azerbaijan. The main responsibility of SOFAZ is to manage foreign currency and assets generated from oil and gas exploration and development. Statutory regulations were approved for the fund by President Heydar Aliyev exactly one year after establishment. The fund’s purpose is for the benefit of future generations, while improving the current economic well-being of its populace.