MRC: Mutual Funds Cut Investment in Banks

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The Majlis Research Center, affiliated to Iran’s parliament, has recommended the mutual funds operating in the country’s capital market to reduce their share of investment in banks in favor of bond market.

A mutual fund is a type of financial instrument made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets.

The research center advised funds that “maximum 30% of assets be invested in banks and credit institutions in deposits and buying banks’ certificate of deposits,” the report published on the MRC’s website said.

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