Index and joint-stock investment funds to be created in Azerbaijan
"İnvest Az Asset Management" Ltd., which is engaged in the creation of the first investment fund in Azerbaijan, plans to launch several funds of different types during the next year, the company told Trend on Thursday.
"We are interested in the creation of funds with stable incomes, namely joint-stock and index funds. The portfolios of these funds are planned to be concentrated mainly in securities with high incomes," the company said.
The company said that in order to diversify the portfolio, the investments will be sent to several companies and it is planned to invest in state securities in order to decrease risk.
"It is also planned to create funds, the portfolios of which will be formed from instruments with sufficiently high income and high risk at the same time. This will offer investors a choice in accordance with their preferences in regards to risk and income ratio," the company said.
The Azerbaijani States Securities Committee gave a license to "İnvest Az Asset Management" Ltd. for investment control in late August. Permission was given for five years.
The first investment fund in Azerbaijan can emerge by years-end, the chairman of the State Securities Committee Rufat Aslanli said earlier. It is expected that this will be an open-end mutual investment fund.