An investment fund is a financial institution established as either a joint-stock company or a mutual fund. It is engaged in attracting and investing funds in accordance with its investment policy to generate profit.

A joint-stock investment fund is an open joint-stock company licensed to operate as an investment fund. Its sole purpose is to generate profit by investing funds raised through the issuance of shares in securities and other assets, in accordance with its investment policy.

A mutual fund is a pool of assets owned by holders of investment fund shares and managed by an investment fund manager on the basis of shared ownership. A mutual fund does not have legal entity status. Its assets consist of funds raised from the sale of shares, as well as assets acquired through the investment of those funds. Mutual funds may be established in open-end, closed end, or interval forms.

An investment fund manager is a legal entity exclusively engaged in the management of investment funds and licensed accordingly. The manager operates under a management agreement concluded with a joint-stock investment fund or with the shareholders of a mutual fund, and acts in the best interests of the shareholders.

The investment fund manager shall:

• form and manage the fund’s assets.
• maintain records of the total value, movement, and composition of the fund’s assets, and calculate the current value of shares.
• maintain separate accounting of mutual fund assets and submit reports to the financial market supervisory authority in accordance with applicable legislation.
• reconcile the value, movement, and composition of fund assets with depositories.
• inform the joint-stock investment fund or mutual fund shareholders about the composition and value of net assets, as well as the current value per share, in accordance with the management agreement or fund rules, at least once a month.

List of licensed equity fund managers:

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"CFİ Asset Management" LLC”

License number	141
Date of issue of the license	30.06.2014
Legal address	AZ1010, Baku, Nasimi district, Neftchiler avenue, apartment 64
Actual address	AZ1022, Baku, Nasimi district, Jalil Mammadguluzade 102A, 4th floor
Contact İnformation	(012) 599 90 99
Director	Gasimova Parvana Alifagha

"İnvestAz Asset Management MMC”

License number	İFİ-01
Date of issue of the license	31.01.2024
Legal address	Baku, Khatai district, Aladdin Guliyev street, block 1131, apartment 4,
Actual address	Baku, Khatai district, Aladdin Guliyev street, block 1131, apartment 4,
Contact İnformation	(+994 51) 232 99 49
Director	Gurbanzada Shahriyar Aghazeynal

 

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