Iran Mercantile Exchange Turned Gold!
Today secondary trades of Iran’s first commodity backed fund (ETC fund), Lotus Parsian, started on Iran Mercantile Exchange with a great interest from market participants. The fund units (LOTF1, IRR 10,300) performed more than 3% and changed hands 113,363 times. Since the fund’s units are trade-able on Iran Mercantile Exchange, the bid-offer orders can be placed via online trading platforms and the daily NAV is updating every 2 minutes.
The commodity backed fund incepted on May-June 2017 as its first kind and during the five days of underwriting all its IRR 158,790 mn units were sold to the market. The fund managers, Lotus Parsian investment bank, have chosen an active style for the fund management.