Azerbaijani media reports that until the end of 2012, the first batch of gold purchased by the State Oil Fund of Azerbaijan (SOFAZ) will arrive to the country.
According to executive director of SOFAZ, Shahmar Movsumov, the first batch will be weighing 1 ton.
According to the investment strategy of SOFAZ, approved by the President of Azerbaijan on 29 December 2011, in 2012 up to 5% of the total investment portfolio of the Fund may be invested in gold.
In order to diversify the investment portfolio and increase the profitability SOFAZ, investing in gold began in February.