Management of part of the assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) may be granted to external managers. An external manager or its parent company should meet the following requirements:
1) Have an investment grade credit rating (Standard & Poor’s or Fitch or Moody’s);
2) Have relevant experience of not less than 5 years in managing financial assets;
3) Have experience in managing financial assets in an amount equal to or exceeding USD 1 billion.
The amount granted for being managed by an external manager is determined as follows. The maximum allocation to external managers should not exceed 60% of the total value of the Portfolio. The maximum allocation to one external manager should not exceed 5% of the total value of the Portfolio.
Currently, part of the assets of the Oil Fund is being managed by 7 external managers:
The World Bank Treasury invests over $180 billion in global fixed income on behalf of more than 70 internal and external clients including the World Bank Group, central banks, sovereign wealth funds and other official institutions. The World Bank Treasury, within the framework of RAMP program provides advisory services and training to official sector investment managers to help countries efficiently manage foreign currency reserves and other investment portfolios.
For detailed information please refer to: www.treasury.worldbank.org
DWS Group GmbH & Co. KGaA (DWS) is one of the world's leading asset managers with EUR 841 bn of assets under management (as of 31 March 2023). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe DWS offers individuals and institutions access to investment capabilities across all major asset classes and solutions aligned to growth trends. The firm’s diverse expertise in Active, Passive and Alternatives asset management – as well as a deep environmental, social and governance focus – complement each other when creating targeted solutions for clients.
For detailed information please visit: www.dws.com
UBS Global Asset Management is a business division of UBS AG, a Swiss public company listed on the Swiss Stock Exchange and the New York Stock Exchange. The firm provides a diverse range of investment capabilities and styles across all major traditional and alternative asset classes, offering dedicated asset management solutions for sovereign clients such as Sovereign Wealth Funds, national and central banks, government agencies, national pension funds and other global institutions. UBS Global Asset Management has its main offices in Chicago, Hong Kong, London, New York, Shanghai, Singapore, Sydney, Tokyo and Zurich. UBS has $1.1 trillion in assets under management as of 31 December, 2022.
For detailed information please refer to: www.ubs.com
State Street Global Advisors (SSgA)
State Street Global Advisors (SSgA) founded in 1978 in Boston, is the asset management business of State Street Corporation, one of the world's leading providers of financial services to institutional investors, with a heritage dating back over two centuries. SSgA’s operational platform features 29 global offices, 10 investment centers and a 24-hour global trading capability with trading desks in Boston, London and Hong Kong. State Street Corporation is a publicly traded bank holding company whose shares are traded on the New York Stock Exchange. SSgA has $3.5 trillion in assets under management as of 31 December, 2022.
SSgA’s specialist Official Institutions Group provides expert investment management services to sovereign clients such as central banks, government agencies and supranational institutions.
For detailed information please refer to: www.ssga.com
BlackRock, Inc. is a global investment management corporation based in New York City. Founded in 1988, BlackRock is the world’s largest asset manager with $8.6 trillion in AUM (as of 31 December 2022). BlackRock has world-class capabilities, with a comprehensive range of products and services across asset classes, geographies and investment strategies. The firm has expertise in every region around the world, with approximately 19,000 employees in 30 countries and serves governments, companies, foundations, and millions of individuals.
For detailed information please refer to: www.blackrock.com
Mellon Capital Management
Mellon Capital is part of BNY Mellon Asset Management North America, a specialist multi-asset investment management firm dedicated to serving sophisticated investors globally. The firms provides clients with high-quality single and multi-asset investment solutions using both active and passive strategies.
For detailed information please refer to: www.mcm.com/web/mcm
Sumitomo Mitsui Trust Holdings, Inc
With assets under management of USD 646 billion (as at the end of March, 2023), the Sumitomo Mitsui Trust Group (the “SuMi TRUST Group”) is Japan’s largest asset manager and custodian. The firm has businesses in areas such as banking, asset management and administration, and real estate, providing solutions to both individual and corporate clients.
For detailed information please refer to: www.smth.jp/en/