– Acting as a catalyst to deepen Iran capital market by directing liquidity to real economic sectors, debt securities with the highest yields have been reported below until 18 January 2017:
– According to the Statistical Center of Iran, the Inflation Index stood at 6.9% over 21 Dec- 19 Jan, registering 3 points down in comparison with the same period last year.
Market News
IFB ranked by transparency!
All listed tickers on IFB ranked with regards to disclosure quality and proper notification over a 12 months period ended September 2nd, 2016.
Disclosure quality measured based on two factors, reliability and timeliness. Moreover, since investments companies are not ought to release EPS estimates, therefore, points on them counted regardless of the estimates.
Tourism Bank Fixed Income Mutual Fund Fact Sheet (Sep 2016)
Four angles on ETFs!
An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features.
Market News
Mahan financed airplanes on IFB
Mahan Airlines Sukuks were sold on IFB today. The aviation giant decided to finance two airbuses by issuing Ijara securities with 21% nominal rate at par value of 1,000,000. The coupon payments will be quarterly and the maturity is in 4 years. The ask demand was 16 times higher than 2.1 mn issued papers and in an eye blink IRR 2,100 mn worth of securities were purchased.
Market News
According to Monetary and Banking Research Institute (MBRI) public relations, Akbar Komijani, deputy of Central Bank of Iran (CBI), in his speech in the 26th annual conference, dubbed “monetary policies performance and plans for the FY2016/17,” said: “the monetary base over financial year 2015/16 witnessed 17.1% growth YOY and reached the amount 1,535.7 trillion rials, indicating 6.4 unit percent growth to that 2014/15.
Money multiplier stood at 6.624, showing 11% rise compared with that of 2014/15 and registering 0.5 unit percent rise with the prior year. This is to say that the major catalyst behind liquidity in the previous year was the spike in monetary base, noted Komijani.
Regarding the effective factors in the change in monetary base, this official also stressed that net foreign assets of CBI with 21.3% growth y/y and constituting 25.7 unit percent was the main driver behind money base increase in the earlier Fiscal Year.
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.
