Iran mutual fund investors grow by 282 percent
Azerbaijan, Baku, April 21 /Trend M. Moezzi /
Iran's Securities and Exchange Organization says the number of mutual fund investors grew by 282 percent last year, the Islamic Republic News Agency (IRNA) reported on Saturday.
At the end of the last Iranian year (Iran's solar year ended on March 19), there were more than 65,000 real and legal mutual fund investors compared to 17,000 the year before, said Reza Nouhi, the organization's expert on management supervision of financial institutions
The value of the funds grew by 115 percent, from more than $684 million to about $1.5 billion.
More than 77 percent of the funds' total value belonged to those invested in securities with fixed incomes like participation bonds and sukuks (certificates that comply with Islamic law).
The greatest returns belonged to the Sina, Aryan and Boursiran mutual funds with 47, 36 and 31 percent in yields respectively.