Jurisprudential and Legal Nature of Fixed Income Mutual Funds

Counted as one of the financial intermediaries, mutual funds are categorized under the institutes which continuously sell their investment units to public by which they collect money and invest them in instruments such as equity, securities, and short-term tools of monetary market in accord with the purpose of the fund. It should be mentioned that these funds, todays, are categorized under four sections: equity based, Securities based with fixed income, mixed, and indexical. The second type i.e. fixed income mutual funds, is more operative in Iran capital market and are publicly more attractive than the other ones. Regarding the spread of these funds in Iran, eye-catching desire of investors to them, and how rampant they are in Iran, it sounds critical to legally analyze it and study the process of establishment, administration and liquidation of them in comparison with other companies particularly with joint stock ones. As it is roughly a new issue, lack of research resources are observable.