The market rallied today on a flurry of good news. Based on unofficial statements of one the SEO’s directors (Security and Exchange Organization of Iran), an ETF will be established soon which its unit holders have an option to sell 30 percent higher than initial price within one year maturity. If the NAV improves more than 30%, the units can be sold at market price. That means the fund will guarantee at least 30 percent interest for a year which is higher than deposit interest rates of all the banks. It is also mentioned that all the legal market entities can offer and underwrite these kinds of funds and the first one will be offered by the Market Development Fund. However, no more details have been officially approved by the SEO until now.
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The possibility of offering an ETF fund by the SEO with 30 percent guaranteed interest, has brought some hopes to the market and has increased the expectation for next year. Official news regarding this matter will be published soon by the SEO.
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