Tamadon Investment Bank is set to launch the Taban Tamadon Gold Fund as part of its efforts to diversify its product portfolio.
According to the Communications and Media Department of Tamadon Investment Bank, Dr. Ali Bigzadeh, CEO of the company, announced the initiative, emphasizing the importance and necessity of establishing a gold investment fund. He stated that Tamadon Investment Bank offers a diverse range of investment funds to meet the needs of investors.
Bigzadeh noted that the absence of a gold fund, which serves as an inflation-hedging investment vehicle for investors, was a gap in their offerings. Consequently, the establishment of the Taban Tamadon Gold Fund was prioritized by the company.
According to Bigzadeh, the Taban Tamadon Gold Fund is an Exchange-Traded Fund (ETF) that can be traded in the market. Given the strong reputation of Tamadon Investment Bank, the fund is expected to carve out a distinct position in the market.
He further explained that the fund will focus on asset classes with minimal speculative bubbles and higher intrinsic value.
The CEO of Tamadon Investment Bank emphasized efforts to establish a connection between the Taban Tamadon Gold Fund and the company’s existing investor base, enabling loyal clients of Tamadon’s funds to benefit from the advantages of this gold fund.
Bigzadeh described gold as one of the safest investment options globally, noting that in Iran, investors typically turn to gold funds to preserve their capital against inflation and market fluctuations. He highlighted that physical gold purchases carry specific risks, whereas gold investment funds mitigate these risks. Alongside other funds, the Taban Tamadon Gold Fund caters to investors who, at certain times, seek to reduce portfolio risk by reallocating funds from equities or fixed-income funds to gold.
Bigzadeh underscored that Tamadon Investment Bank’s funds, particularly its fixed-income funds, hold a prominent position in the market. He expressed confidence that investors who trust Tamadon Investment Bank will extend that trust to the Taban Tamadon Gold Fund and invest in its units.
He clarified that, as the Taban Tamadon Gold Fund is one of the company’s existing funds, it will not undergo a subscription process; instead, its trading symbol will be activated. The company is also seeking regulatory approval from the Securities and Exchange Organization to increase the fund’s current ceiling of approximately 100 billion IRR.
Addressing the fund’s liquidity, Bigzadeh explained that, as an ETF, liquidity is a key consideration. The Tamadon Market Development Fund will act as the market maker to ensure liquidity.
He highlighted high liquidity as a key advantage of such funds, noting that the Net Asset Value (NAV), determined daily, is supported by a market maker that guarantees the liquidity of the fund’s units.
Regarding the launch timeline, Dr. Bigzadeh stated that administrative processes for establishing the fund are underway, and the fund will be launched as soon as these processes are completed.
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