The Securities and Exchange Organization (SEO) announced a new cap for the investment funds; the new funds must start with an initial capital of 5000 billion IRR ($119) and they can increase their fund only after one year of activity. From now-on the mutual funds and fixed-incomes can increase their fund up to a maximum of 100 thousand billion IRR ($2.38b). Previously this cap was 250 thousand billion IRR. SEO aims to increase its control over the funds. The investment funds in Iran manage nearly 1300 thousand billion IRR ($31b) of money while the Central Bank has no supervision over these financial institutions.
Tehran Stock Exchange (TSE) started the week with continues fall. Amid the uncertainties about the exchange rate and the nuclear deal fate, the visit of the French President to Washington brought some calmness to the market. (Although he eventually expressed his doubts about Trump’s decision before his return.) Still his support and the increase of oil prices dedicated two positive trading days to TSE. The refineries group experienced the most increase in prices. Finally, TSE’s main index, TEPIX, stayed at 94796 points, 0.76 percent less than a week ago. See the charts above.