Azerbaijan SWF looks to Chinese equities after foray into renminbi

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Sofaz is "planning to gain exposure to Chinese equity markets"

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 sover

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