Azerbaijan’s Sovereign Wealth Fund Looks at Real Estate

The State Oil Fund of Azerbaijan (SOFAZ) hinted in moving into other asset classes such as European commercial real estate. Some fixed income instruments have grown in risk and some have yielded poor returns.  The fund may diversify into European real estate in developed  and transparent markets.  Most European and Central Asian sovereign wealth funds started their journey in European real estate in the United Kingdom. The next cash flow incursions would most likely be in Germany or France. As of early 2012, the sovereign wealth fund has very little exposure to equities, mostly allocations to fixed income in corporate bonds, agencies, supranational debt, sovereign debt, and other fixed income investments. The fund also has heavy exposure to Europe.



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