Details and how to use the resources of the development fund in the stock market – Tejaratnews

According to Tejarat News, Habibreza Haddadi Siahkali, the head of the Capital Market Stabilization Fund, explained about changing the direction of using the resources of the National Development Fund and depositing into the Market Stabilization Fund in order not to lose resources and become a partner in the market: since the past years, the National Development Fund with According to its own statute, there were restrictions on depositing any amount in the form of Rials under the title of deposit.

Haddadi said: In the new period, the board of directors of the National Development Fund was of the opinion that they should enter into the flows of the money and capital market so that these resources of the Development Fund, which are somehow related to the future, can return to the people and not be destroyed or burned. .

Details of the use of development fund resources in the stock market

He continued: Based on this, the Development Fund emphasized to us to deposit these resources in the form of deposit and not in the form of investment, which, of course, was our request. Because we wanted to prove that if you bring money to the stabilization fund, with the market management that is done in the market and the inflation that we have in the country, there is usually no loss in it, and at least if it does not benefit the inflation rate, a benefit equal to the yield rate of banks or interbanks. will have

The head of the Capital Market Stabilization Fund added: Before the new decree, the National Development Fund was only allowed to make deposits with a fixed interest rate of 11% in the Capital Market Stabilization Fund and did not have the right to invest. This new form was prepared and finally approved by the parliament on August 16 this year.

He added: According to the new contract, the National Development Fund will share in the profit of the Capital Market Stabilization Fund, so that as the profit in the Stabilization Fund increases, the profit of the National Development Fund will also increase.

Haddadi explained: In the new contract, the net asset value (NAV) of each of these beneficiaries, including the government, the stock exchange organization, and the National Development Fund, is calculated daily to the extent that they contribute, and the net asset value (NAV) at the end of each day is the capital of the previous day’s profit. will be

He explained: Because 60% of the resources belong to the National Development Fund, according to this partnership agreement, more than half of the profit of the stabilization fund was allocated to the National Development Fund, and the National Development Fund fortunately did not take this amount from us before the new year. From the beginning of the year, it was calculated as one of its own contributions, and we took the profit amount back into the system from the beginning of the year, and the net asset value (NAV) was calculated from the seventh of April.

He pointed out: on 31st Shahrivar, the total unaudited amount of profit for the first 6 months of 1402 related to the Capital Market Stabilization Fund was about 1,300 billion Tomans, which is divided in the same proportion, approximately 60%, between the main beneficiary, the National Development Fund, that is, practically With the new partnership agreement, it was ensured that the money of the future Iranian people will not be wasted and that it will have at least the added value that it wants.

Haddadi noted: In the past, when the market had not grown so much in terms of value, with 300 billion tomans, the deficits could be compensated in such a way that people would realize that there is a strong supporter behind the market. But now that we have more than 20 projects in our portfolio, as seen by the legislator and this year in the open floor of the parliament for 1403, it was proposed that one percent of the national development fund should be brought to the stabilization fund, so that we can have strong and vigorous regulatory support. to have from the market and play our role well, our portfolio should definitely grow according to the market and we need serious injection of fund resources.

Source: Bidarbors