Yield on SOFAR assets management by international managers to make 3%

This is taking place on the background of the US reserve rate growth and some euro rates lowering, the SOFAR executive director Samir Sharifov told Trend.

And with all this, according to Sharifov, 35 % of the fund’s means for the moment are deposited in euro. 95% of assets fall at the three basic currencies: the US dollar, the British pound and the euro. The rest 5 % may be placed in the currencies of the “8 Bigs” countries or in the currency of any other country, a long-term sovereign rating of which is not lower of “A.

Sharifov also noted, that re-evaluation of assets in the manat equivalent is taking place quarterly, following their proportional distribution in various currencies.

It should be noted that the yield from the SOFAR assets management on the results of 2004 at the three-month LIBOR rate of 1,56% was 2,57% (at that time the SOFAR assets were 4 758 166,2 million manats or $970,5 million). And with all these, the yield from assets management by the foreign manager Clarident (part of the Credit Swiss group) made – 2,33%, Deutschebank Asset Management – 1,68%.

The average returns from assets management for the period of 2001 - 2004 were 3,25% (2001 – 3,87%, 2002 – 2,15%, - 2003 – 4,42%, 2004 – 2,57%). Taking into account the inflation rate of 1,93%, for 2001-2004, the real returns were 1,32%. In 2004, the real returns were 0,34% with the inflation rate of 2,23%.

The maximal yield for the period of cooperation with Clarident was 3,77%, minimal – 0,84%, Deutschebank Asset Management – respectively 6,2% and 2,03%.