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Azerbaijan will amend the Bill on Investment Funds

14 January 2009 15:01 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. The development of the proposed Bill on Investment Funds has continued to progress and is about to be completed, said Rufat Aslanly, Chairman of the State Committee for Securities.
He added that the bill has already been discussed in the government.
â€œBecause the bill had been prepared before the global financial crisis emerged, the document is subject to a revision. I hope that this process will take 2-3 months,â€ he added.
The bill as a main legal framework required for the operations of investment funds,
includes items on the activities of equity funds 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.