EghtesadOnline: The value of exchange-traded funds reached 170.31 trillion rials ($1.48 billion) by the end of the sixth calendar month to September 22, according to a monthly report by the Central Securities Depository of Iran.
During the period their value grew by 13.24% compared to a month earlier when it was 150.39 trillion rials ($1.31 billion).
On a year-on-year basis, the total value of ETFs indicates a steep increase of 83.7%.
An ETF is a type of fund that owns underlying assets (shares, stocks, bonds, oil futures, gold bullion and foreign currency) and divides ownership of those assets into shares, according to Financial Tribune.
ETFs hold multiple underlying assets, rather than only one like a stock. An ETF can own hundreds or thousands of stocks across various industries, or it could be isolated to one particular industry or sector.
There number of ETFs operating in the domestic capital market reached 39 in the month, according to the CSDI.
CSDI reported on the top 10 ETFs in terms of their total value in the capital market.
As usual, Arman Parand Mapna Project Fund topped the list with a total value of 42.3 trillion rials ($369 million).
Parand Paydar Sepehr Fund valued at 20.18 trillion rials ($176.31 million) was second. The fund made a dramatic improvement over its sixth rank a month earlier.
Kamand Fixed Income Investment Fund was next as its value reached 15.14 trillion rials ($132 million).
This was followed by Etemad Afarin Parsian Fund with 13.113 trillion rials ($114.5 million), Arman Ati Kosar Fund with 10.316 trillion rials ($90 million) and Amin Yekom Farda Fund with 10.2 trillion rials ($88.8 million).
At the bottom of the list were Kian Fund, Yekom Development Equity Bonus Fund and Tose Andukhte Fund.