Our local exchange-traded fixed income fund, Afra, was launched in March 2020. Afra invests primarily in low-risk financial instruments, in addition to allocating a small portion of the portfolio to listed equities and rights. The fund is designed for institutional investors with the goal of covering their fixed-income investment and liquidity needs. Afra’s market maker is committed to maintain the fund’s unit price at or close to NAV through a well-defined process and framework. This allows for a highly-liquid and cost-efficient subscription and redemption mechanism.

Afra VS Banking Performance

 

Key features of the fund:

  • Listed on Tehran Stock Exchange
  • No investment minimum
  • No minimum holding period and no restrictive penalties (unlike bank deposits)
  • Higher return than bonds and bank deposits
  • Well diversified portfolio that is more liquid and has lower risk than single-instrument
    exposure funds
  • Tax-exempt