Azerbaijan SWF looks to Chinese equities after foray into renminbi
Successfully invested in yuan-denominated instruments this week
Azerbaijan's sovereign wealth fund, the State Oil Fund of the Republic of Azerbaijan (SOFAZ), will start investing in Chinese equities after venturing into yuan-denominated instruments this week.
The State Oil Fund of the Republic of Azerbaijan (Sofaz) said in a statement on July 2 it had obtained a licence from the People's Bank of China (PBoC) for investments of up to RMB 3 billion ($483 million), and had signed a contract clearing the way for the purchase and custody of yuan-denominated
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