A British asset manager is the first Western entity to invest in Iran following a recent nuclear understanding, with more international investors expected to flock to the country.
London-based Charlemagne Capital, with about $2.5 billion under management, has teamed up with financial services group Turquoise Partners in Tehran to invest in Iranian equities.
They plan to set up funds in different sectors such as oil and gas, banks and retail, the Financial Times reports.
Charlemagne Capital, which focuses on emerging markets, sees Iran as one of the best opportunities for investors, its portfolio adviser Dominic Bokor-Ingram has said.
The country’s highlights for investment opportunities include its highly educated population, an extremely diversified economy and a very developed stock market and regulatory system.
Unlike other Middle Eastern countries, Iran is not overly reliant on oil and gas, Bokor-Ingram has said.
Charlemagne Capital and Turquoise Partners plan to start with an asset base of $70 million and raise it to $200 million shortly.
Bokor-Ingram expects more international groups to launch funds and joint ventures in Iran once a final nuclear deal is signed.
“I doubt you will be able to get a seat on a flight to Tehran in the next week or two as business people will be flocking to the Iranian capital. The nuclear deal will open the floodgates to international investment in Iran,” the FT quoted him as saying.
Iran’s stock market has been one of the best performing markets in the Middle East even under crippling US-led sanctions.
Foreign investors see huge potentials which could turn Iran to a regional economic powerhouse overnight.
A deal between Iran and the P5+1 group of countries will pave the way for the end of sanctions which include asset freeze and ban on transactions through the international banking system.
By Press TV