SOFAZ Raises Assets to $74 Billion

Assets of Azerbaijan's State Oil Fund (SOFAZ) rose 67 percent over the past five years, from about $44.3 billion to $74 billion. Adviser to SOFAZ's executive director Vadim Pshenichny said so in an interview with Trend, as reported by Day.Az.

Pshenichny said gold's share of the portfolio exceeded the permitted deviation limit after a sharp rise in gold prices early in the year, so the fund sold part of its gold. The share is now about 34 percent, against the 35 percent level set in the investment policy.

He said returns were positive over nine months, while the first half was weaker due to geopolitical events, inflation expectations and higher energy prices. As of September 30, 2026, the fund's assets stood at $74 billion, or 125.8 billion manats.