The quorum for buying shares of fixed income funds was reduced – Tejaratnews
According to Tejarat News, today (Tuesday, May 5, 1402), the Center for Monitoring Investment Funds of the Stock Exchange Organization announced the amendment of the investment quorum for “Fixed Income Securities Investment Funds”. The full text of the announcement is as follows:
informs that according to paragraph 1 of the eight hundred and sixty-sixth meeting minutes of the Board of Directors of the Securities and Exchange Organization, the quorum of investment funds in fixed income securities was amended as follows:
1- The limit of investment in “shares, pre-emptive shares, investment units in investment funds and commodity deposit certificates” by investment funds in fixed income securities is a maximum of 10% of the total value of the fund’s assets.
2- The investment limit of investment funds in fixed income securities in the investment units of investment funds is allowed from a maximum of 5% of the total assets of the fund and up to 30% of the number of investment units for the investors of the investment fund to a maximum of 10% of the total assets of the fund and up to a maximum 15% of the number of investment units with the investors of the investment fund was changed. Investment funds in fixed income securities can allocate a maximum of three percent of the total value of the fund’s assets to investment in investment units with a fund.
Further, all investment funds in fixed income securities, which have violated the provisions of paragraphs 1 and 2 of this notification and the provisions of paragraphs 2 to 4 of the notification No. 12020245 dated 12/02/1401, are required within a maximum of three months from On the date of notification of this resolution, they should gradually and continuously comply with the above-mentioned regulations.
It should be mentioned that earlier in January 1401, the requirement of at least 15% of shares to be purchased by fixed income investment funds was removed by the approval of the Stock Exchange Organization.
Source: Iran’s capital market