The Board of Commissioners of the Jordan Securities Commission (JSC) approved the registration and implementation of the prospectus for an open-ended mutual fund.

On Wednesday, September 25, 2024, the JSC Board of Commissioners approved the registration and implementation of the prospectus for an open-ended mutual fund with a minimum capital of 2 million Jordanian dinars and a maximum capital of 20 million Jordanian dinars. The fund will be managed by the United Financial Investments Company as the investment manager, with the Housing Bank for Trade and Finance, a public shareholding company, serving as the investment trustee.

This step comes within the framework of the JSC's efforts to stimulate institutional investment, enable small investors to diversify their investments and have them managed by a specialized management team, improve liquidity levels, and attract investments by contributing to reducing investment risks and providing a safe and attractive investment environment.

This fund is the first registered mutual fund in over 20 years, and this step is of great importance due to its anticipated positive impact on the financial market and its development through diversifying its instruments and increasing its depth. The fund's investment policy aims to allocate 80% of its net assets to shares of companies comprising the ASE20 index and 20% to lower-risk investments in the money market. This aligns the fund's significance as it mirrors the benchmark ASE20 index.

It is worth noting that the fund is subject to several regulations, most notably: the Securities Law of 2017, particularly Articles 89-104; the Mutual Funds Regulations of 2018; the Anti-Money Laundering and Counter-Terrorism Financing Instructions of 2018 and the guidelines issued thereunder; and the regulations and instructions for licensing and accrediting financial services issued by the Securities Commission.