The 14th Annual Meeting of the International Forum of Sovereign Wealth Funds (IFSWF) is organized by SOFAZ in Baku on November 14-17 under the title “Mobilising Capital for Change”.
Sovereign Wealth Funds - are state-owned investment funds formed by revenues from natural resources, the main purpose of which is to earn additional income by investing the collected funds in bonds, stocks, real estate, precious metals or other financial instruments on world markets.
In the establishment of the IFSWF, an integrated international organization established in order to establish and promote integrated standards of activity, which manage funds in the amount of more than 6 trillion USD, represent 32 countries, unite 37 full-member and 9 non-member partner sovereign wealth funds, SOFAZ acted as the first initiator and was one of the first members of the Forum.
It is remarkable that the first historic meeting of the IFSWF was held in Baku in 2009, organized by the government of Azerbaijan and SOFAZ.
During the two-day annual meeting hosted by SOFAZ, panel discussions and business meetings on various topics will be organized with the participation of the IFSWF's Board of Directors, member funds and governmental representatives of the Republic of Azerbaijan.
The event, held in Baku, is of great importance for SOFAZ in terms of sharing experience on risk management with the world's leading funds and financial institutions and sharing views on potential investment opportunities.
Launching the event with an opening speech, SOFAZ CEO Israfil Mammadov noted that "the reflection of the institutional management and accountability standards of such a global institution as IFSWF in SOFAZ's activities, which marks the 23rd anniversary of its activity next month, establishes the foundation for strengthening the Fund's role in the country's investment policy and macroeconomic stability." Referring to the business session of the event, which was organized with the participation of governmental representatives of the Republic of Azerbaijan, Mr. Mammadov emphasized that “this Forum is a successful platform for a visual demonstration of the country's near-term development potential and development directions to large institutional investors in the context of Azerbaijan's vision of 2030 and socio-economic strategy for 2022-2026”.