Azerbaijan parliament may approve Bill on Investment Funds

Azerbaijan parliament may approve Bill on Investment Funds
# 18 September 2008 13:36 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Milli Majlis, the parliament of Azerbaijan, may discuss the Bill on Investment Funds developed by the State Committee for Securities at fall session.
Gunduz Mammadov, Chairman of the Committee, told APA-Economics that the Bill has been submitted to the Government for approval.
“I hope this bill will be passed at the fall session,” he added.
This bill is the main legal document required for the operations of investment funds.
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.
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