The fund will work according to its statute and Prospectus under the control of SABA. The registration of this fund through stock exchange was planned in order to be assured about the heed of legal rules and regulation of this organization besides the transparency of the information. Furthermore this registration does not imply any confirmation of premium, profitability or recommendation from SABA. Goals:
The propose of this fund is to gather cash from investors and allocate them to purchase different types of security in order to decrease the investment's risks, increase usage of economies of scale and providing benefits for investors.
Concept and the activities jurisdiction:
The subjects of the investment fund are gathered in equity and all other investments which their specifications are mentioned in the fund's Prospectus. Type of the fund:
Fund’s type is Mutual investment Fund with open end.
Activity duration:
Update price of the units:
The price is equal to the net value asset of the fund at that point of time divided to the net issued units.
The issuance price:
The price is equaled to the nominal value of certificates in the initial underwriting date besides in addition with the update value of the investment units during the period after the initial underwriting.
The liquidity status:
This fund is facilitated with the capability of demanding for issuance, voiding of the investing units in the selected branches of Mehr financial institution and Novin Brokerage Company from time to time.
Fund return rate:
The trustee secured the daily compounded return rate of 19% per a year.
The allegiance and centralized origin:
The allegiance of this fund is Iranian and it is placed in the fifth floor, number seventeen, Azadegan allay, Ghaem Maghame Farahani St.
Mass issued newspaper:
The rights of the unit’s owner:
Each owner of the investment units has its share from the net asset of the fund with a respect to the number of his or her investing units. The deciding right across the fund's asset is specialized to the fund manager according to the statute's frame work. The owner of the investment units could void his under control unit's ownership according to the statute's content and could get a way his or her share from the net asset of the fund after deducting the relevant revoking fee.
Fund's pillar:
Fund’s pillars are as follows:
-Fund's manager: Novin Investment Bank.
-Fund's trustee: Novin Investment Bank.
-Fund's auditor: Farivaran Accounting Institution.
The duty's description, jurisdiction and all the pillar's responsibilities besides their complete identifications are mentioned in details at fund's prospectus and statute.
Private investors maximum and minimum investing units:
The investing unites for each privet investor at any time will be at minimum ten units and will be at maximum five percent of the fund's investing unit, except the custody, accountant, manager and establishers.
Underwriting essential documents: The documents for the person who demand investing is, identification documents (birth certificate, passport, driving certificate or the national card), for the agents of legal person will be recommendation, for the lawyer will be legal proxy and for the custody will be protectorate documents.
Underwriting procedure:
People who are interested in underwriting process, should request for the underwriting form and fill it by referring to one of the selected branches (mentioned in statues) during the specialized period, then they should settle the specified amount for the investment to one of the account numbers of above, besides they have to offer the receipt in addition to the filled form to the agent of the registration director who is present in the selected branch. For more information please click here. In case of observing any inconsistency between the content of this announcement and the statue, the statute considered superior.