Securities Exchange Organization Approves Establishment of Third Fixed-Income Foreign Currency Investment Fund

The Securities and Exchange Organization has given in-principle approval for the establishment of a third fixed-income foreign currency investment fund. The fund will be formed with the participation of Tarang Investment Advisory Company, Bank Saman, and Omid Atiyeh-Andish Development Investment Company, and its unit cap has been set at the equivalent of 10 million dollars.

The Securities and Exchange Organization's Investment Fund Monitoring Center issued an in-principle approval for the third investment fund in assets with fixed foreign exchange income.

According to the report of the Securities and Exchange Organization, the Center for Supervision of Investment Funds of this organization issued the third in-principle approval for the establishment of a foreign exchange investment fund with the combination of shareholding of Taranj Investment Consulting Company, Saman Bank and Omid Development Investment Company.

According to the issued approval in principle, the type of this fund has been determined as an investment fund in foreign exchange assets with a fixed foreign exchange income and a structure based on issuance and cancellation.

Therefore, the minimum number of investment units of this fund is 100,000 investment units equal to one million US dollars and the maximum number of investment units of the said fund is one million investment units equal to 10 million US dollars, with a base value of 10 US dollars.