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EghtesadOnline: The overall value of exchange-traded funds in Iran’s stock market reached 190.6 trillion rials ($1.49 billion) in the month to November 21, up 3.47% on a monthly basis.

ETFs registered 80.8% annual hike in value terms, according to data released by the Central Securities Depository of Iran.

The number of ETFs operating in the domestic capital market reached 42 by the end of the period under review compared to 39 ETFs in September.   

ETFs are expected to grow both in number and value in the next fiscal year (March 2020-21) as the government plans to tap ETF capacity to divest its remaining stakes in a dozen companies, Financial Tribune reported.

As per the next draft budget, administrative bodies are obliged to name subsidiaries in which the government’s share is below 50%.

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.

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.


Top Ten

CSDI named the top- performing ETFs during the period.

Arman Parand Mapna Project Fund topped the list with a total value of 45.12 trillion rials ($352.5 million).

Kamand Fixed Income Investment Fund took second place with 20.48 trillion rials ($160 million).

Parand Paydar Sepehr Fund was next as its value crossed 20.17 trillion rials ($157.6 million).

Amin Yekom Farda Fund and Etemad Afarin Parsian Fund followed with 15.25 trillion rials ($119.15 million) and 13.68 trillion rials ($106.9 million), respectively.

In sixth place was Arman Ati Kosar Fund at 10.63 trillion rials ($83.11 million).

At the bottom of the list were Kian Fund, Yekom Development Equity Bonus Fund and Tos’e Andukhte Fund.


Iran stock market value ETFs exchange-traded funds