By Saeedeh Fakhim, Mahdi Goodarzi & Omid Q. Rose:
Mutual Fund is a type of financial institution which invests funds received from investors in a set of negotiable papers. Mutual funds have been established since 2008 in Iran. The SEO (Securities & Exchange Organization) issues licenses for establishment of mutual funds. Three main elements of each mutual fund in Iran include manager of fund, trustee and guarantor. Considering high validity of these companies and also careful supervision of the stock exchange on them, money default risk of the investors in mutual funds has reached approximately zero. Reception by the shareholders and considerable growth of mutual funds of Iran on the one hand and enactment of Law for Development of New Financial Instruments and Institutions in February 2010 on the other hand increased hope for increasing development of these funds. In this paper, we introduce and review return of Agah fund in Iran capital market.
Agah Mutual Fund
Based on paragraph 20 of article 1 of stock exchange law enacted in December 2005, Agah Mutual Fund started its activity by receiving license from stock exchange under registration No. 10616 as mutual fund on 13 July 2008. Performance of this fund is based on provisions of the articles of association and prospectus and based on the related laws and regulations.