Changes in the investment threshold of mutual funds
Changes in the investment threshold of mutual funds

خانه Changes in the investment threshold of mutual funds

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Changes in the investment threshold of mutual funds

Changes in the investment threshold of mutual funds

Changes in the investment threshold of mutual funds were announced: The Office of Supervision of Financial Institutions of the Exchange and Securities Organization announced in two separate announcements today, changes in the investment threshold and also the application of some investment costs without the approval of the Exchange Organization.

The head of the Stock Exchange and Securities Organization announced in a press conference last week about the amendments to the investment quorum of investment funds.

Accordingly, the Office for Supervision of Financial Institutions issued a statement amending the investment quorum and the minimum conditions for reviewing the application for extension of activity and increasing the issuance ceiling of investment units in investment funds “only in fixed income securities” and “in fixed income securities”. Communicated.

Stock Exchange and Mutual Fund

Based on this notification, the changes will be announced as follows:

Asset Quorum Amendments:

1.1. From now on, “Only in fixed income securities” and “In fixed income securities” funds are allowed to invest up to 60% of their assets in bank deposit certificates and bank deposits.

1.2. “In fixed income securities” funds are allowed to invest in shares and pre-emptive rights listed on the Tehran Stock Exchange or the first and second OTC markets of Iran.

Conditions for reviewing the request for extension or increase of the ceiling:

The following are considered in extending the activity or considering the request to increase the ceiling of units that can be issued in “Only in fixed income securities” and “In fixed income securities” funds:

2.1. It does not agree with the extension of the activity or the request to increase the ceiling of the funds that have violated the quotas mentioned in their promissory note in such a way that more than 85% of their assets are bank deposits or bank deposits. Examination of the request for extension of activity or increase of the issuance ceiling of investment units in other funds that have not complied with the quorum mentioned in their letter of intent will also be possible by receiving a letter of commitment from the authorized signatories of the fund manager to modify the composition of assets. .

2.2. Examination of the request for extension of activity or request to increase the ceiling of the mentioned active funds will be subject to fulfilling the conditions of the notification No. 12020059 dated March 15, 2016 of this organization and applying amendments related to the quota composition of the funds mentioned in paragraph one of this notification.

Therefore, from the time of renewal or increase of the ceiling, active funds are obliged to make amendments to the letter of intent and during the formalities based on the observance of paragraph (1) of this notification.

Also, today, in another announcement, the amount of applicable changes in some of the expenses of investment funds was communicated to all managers of investment funds without the need to receive approval from the organization.

According to the decision of the Board of Directors of this organization, from now on the amount of changes in the costs of trustees, auditors and software of investment funds as a sum of the following and subject to not exceeding one billion rials in each financial period of the fund, in accordance with formalities including holding Assembly and information can be applied according to the articles of association and without the need for the approval of the organization:

Equivalent to five in ten thousand of the value of assets owned by the fund up to one thousand billion rials of the fund;
Equivalent to one in ten thousand of the value of the assets owned by the Fund in relation to the excess of one thousand billion Rials and the ceiling of five thousand billion Rials of the Fund’s assets;
Equivalent to five percent of the value of the assets owned by the fund compared to the excess of 5 thousand billion rials of the fund.

Obviously; Any changes outside the set ceilings are in accordance with current procedure and subject to approval from the organization.

Author: persian / Date: 2017-10-26
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