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Code: 51602 Visited: 49 Publish Date: Sep 09 2018 - 3:20
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Capital Market
Funds of Funds Unveiled
Tehran, Sep. 08 (SENA) - In line with policies of Securities and Exchange Organization of Iran to bolster development of the markets by introducing and implementing new types of financial instruments and institutions, its Chief Executive, Shapour Mohammadi, announced a new type of mutual fund. Known as funds in funds, these new investment vehicles are allowed to invest the majority of their money into other existing funds.

Tehran, Sep. 08 (SENA) - In line with policies of Securities and Exchange Organization of Iran to bolster development of the markets by introducing and implementing new types of financial instruments and institutions, its Chief Executive, Shapour Mohammadi, announced a new type of mutual fund. Known as funds in funds, these new investment vehicles are allowed to invest the majority of their money into other existing funds.

The funds, previously, had permission to invest up to only five percent of their assets under management in other funds. However, they can go up to 100% now. They can be established as either redemption-based or exchange-traded funds. Their maturity is infinite with the minimum capital of 500 billion rials. They are also required to invest at least 85% of their money in other funds.

Mohammadi underlined that SEO continues to take measures to direct the wandering liquidity in the society toward the capital market.

 

 
By: Security and Exchange News Agency (SENA)
 
 
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