Will pension funds be listed?
According to Tejarat News, the funds Retirement Will they come to the stock market?
The Director of Supervision of Financial Institutions of the Securities and Exchange Organization in a conversation with Capital market (Sena) stating that “compilation of rules and regulations related to the establishment of pension investment funds” is one of the issues that the Securities and Exchange Organization has currently put on its agenda and its initial framework has also been developed, he said: based on paragraph 19 of Article A stock market rule, pension funds covered by this regulation are investment funds that provide supplementary benefits for their members’ retirement through savings and investment schemes.
Reza Nouhi of Hefzabad continued: Considering that retirement and the need to create retirement plans covers a large segment of the society, therefore, responding to this need for investment has been discussed for a long time.
He pointed out: Currently, many large companies and institutions have plans under the headings of providing the future of employees, and by using these plans, the personnel of these institutions provide part of the resources themselves, and another part of the resources is provided by the employer. is provided These amounts are used to invest in assets until the individual retires to enjoy the corresponding supplementary benefits.
According to the Director of Supervision of Financial Institutions of the Stock Exchange Organization, this type of investment fund does not include compulsory insurance.
Stating that transparency is the first principle in such plans, he clarified: In these funds, the amounts belonging to the investors are accurately calculated and the assets of the fund’s investment will be among the assets with high liquidity.
Referring to the structure of the retirement investment funds, Nouhi stated: the legal capacity of these funds is provided in accordance with Clause 19 of Article 1 of the Securities Market Law. Also, the structure of such investment funds will be such that it can easily calculate the NAV of the fund, the entry and exit times of investors and the amounts paid by the investor and the employer.
The employer’s restriction is removed
Emphasizing the necessity of being agile in the structure of this type of fund, he said: an agile structure prevents the creation of separate administrative and corporate structures for each company or institution, and the creation of this fund makes it possible for many employers to benefit from a single fund and a limit for There will be no number of employers.
The Director of Supervision of Financial Institutions of the Stock Exchange Organization listed the diversity of risk tolerance in investors’ portfolios as a very important point in the structure of such funds and added: according to the periods of time when a person starts working until his retirement, his investment preferences and desires change. . In other words, as the time of retirement approaches, his asset portfolio should be shifted towards assets with fixed income so that he can provide the investor with a continuous flow of cash and payments during his retirement.
Referring to the average working life considered for each working person, he acknowledged: In such funds, the working period of investors is divided into three periods in terms of risk acceptance: high-risk period, medium-risk period, and low-risk period. In the initial years, with the premise that this group of investors will be present in this fund for considerable years, the portfolio considered for this group of employees will be a portfolio with higher risk tolerance.
Nouhi continued: In the middle years, the investor’s portfolio is directed towards investments with lower risk, and as the period approaches Retirement, the portfolio will move towards investing in fixed assets. Of course, it is necessary to foresee some flexibility so that if investors wish, a different procedure than the default procedure of portfolio selection can be considered.
According to this senior manager in the stock exchange organization, due to covering more investors, continuous resources are deposited into this fund, therefore, the continuous entry of resources into the capital market leads to further development of this market and also enables the process of conscious allocation of resources.
The initial plan can be downloaded from here, as well as the proposed statute from here, and activists can send their comments and suggestions to the management of supervision of financial institutions.