The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested in shares of world giants “Tesla” and “Intel”, the SOFAZ told AZERTAC.

According to the information, SOFAZ executes its investments in line with the Investment Policy and Guidelines, and as per the current Investment Policy SOFAZ can invest up to 25 percent of the total value of the investment portfolio in the equity sub-portfolio (including equity funds).

Within the investment in stock quote on the stock exchange, SOFAZ follows the MSCI World Index, a stock market index that tracks the performance of large and mid-cap stocks across the developed countries worldwide, and invests as per the weighting of all companies included in the index.

The purchases include $84 million worth of Tesla and $31 million worth of Intel shares. “Their share in the SOFAZ stock quote portfolio constitutes 0.7 and 0.2 percent, respectively. We would also like to note that in the future, the weighting of the mentioned Tesla and Intel companies and other IT com
panies in the SOFAZ’s stock portfolio will change in accordance with the composition of the MSCI World index,” the SOFAZ added.

Source: Azerbaijan State News Agency