Newly Enforced AMC Rules: A Step in Right Direction
Newly Enforced AMC Rules: A Step in Right Direction
Monday, May 07, 2018

Newly Enforced AMC Rules: A Step in Right Direction

Monday, May 07, 2018

Newly Enforced AMC Rules: A Step in Right Direction

Securities and Exchange Organization of Iran, which has lately joined IOSCO, the regulatory body of Iranian capital market, made an announcement on April 18 regarding asset management companies (AMCs) to all financial intermediaries and fund management industry.
The High Council of Capital Market in Iran approved the announcement through general meetings with board members of SEO on all fixed income, mutual and mixed investment funds to maintain certain requirements in their inceptions as well as their operations.
As per the announcement, the capped limit of all investment funds at the time of inception is 5 trillion rials ($120 million) and increase on such limit is subject to a year after the inception. Increase in total asset under management of mutual and fixed income funds for more than 10 trillion rials ($220 million) is subject to the High Council of Capital Market Authority approval and total maximum limit on their assets under management for both mutual and fixed income funds has been set at 100 trillion rials ($2.2 billion) for all times during their operations.
In fact, it is almost 12 years since the new rules and regulation reforms have been implemented on the Iranian capital market. These reforms have led to the formation of many diversified financial instruments and entities. 
A sound debt management strategy is key to sustainable and efficient management of public debt. Accordingly, the young structure of the Iranian capital market and novel formation of all instruments and entities may have been subject of interest for many market players such as banks, financial institutions and large enterprises. 


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