Iran Stock ETF Aims to Lure Foreigners Amid Nuclear Talks - Bloomberg:
"Iran will get its first index exchange-traded fund tomorrow with the instrument’s creator betting on growing foreign demand for the nation’s stocks as it nears a deal to end sanctions over its nuclear program.
Turquoise Partners Group secured regulatory approvals for the Turquoise TSE 30 Iran Index ETF, which will mirror the TSE 30 Index of the biggest stocks by market value on the Iranian bourse, the company said yesterday by e-mail. Fundraising will start on Jan. 27 and the ETF will be listed on Iran’s main equities market, according to the e-mail.
While foreigners can invest in Iranian stocks, international sanctions hinder the process of transferring money and deter institutional funds, according to Charles Robertson, the London-based chief economist at Renaissance Capital Ltd. Iran reached an interim deal in late 2013 with global powers, yet in November negotiations were extended to July after both sides failed to come to a comprehensive agreement."
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