Finance

Finance

Azerbaijan Government OKs Bill on Investment Funds

13 November 2009 16:53 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijanâ€™s State Committee for Securities has received approval for the Bill on Investment Funds, said Rufat Aslanly, Chairman of the Committee.

According to him, this bill is the main legal document required for the operations of investment funds.

â€œThe government has approved of it. This bill is prepared with all the problems in the stock market taken into account,â€ he noted.

The bill includes items on the activities of corporations and mutual funds.
Mutual funds are more widespread in emerging markets.

Investment funds will be able to invest not only in securities, but also in other assets.

The bill also focuses on protecting the rights of investors.
According to experts, because investing in the mutual funds is an alternative to bank deposits, investments could reach the volume of bank deposits.

The annual yield on the shares in mutual funds may reach 60-80% and higher.