The State Securities Committee has issued a license on asset management to LLC AzFinance Asset Management on June 30.
The registered capital of the company has been invested 150,000 manat. It was registered in the Ministry of Taxes of the 20th of May this year. The company told Turan that its sole founder is LLC AzFinance Invest.
LLC AzFinance Invest was incorporated on 30 January this year under a different name, Gilan Capital, with a registered capital of 1,000 manat. Nevertheless, the company said that it is not a subsidiary of the group Gilan Holding.
In an interview with Turan the director of AzFinance Asset Management Abid Mammadov said that the first steps of the new company will be talking to the end of July.
On April 7 SCS provided LLC Azfinance Invest a license for broker-dealer activities in the securities market.
AzFinance Asset Management is the second company in Azerbaijan, which intends to professional asset management activity on the securities market. The license is valid for 5 years. State duty to obtain it is 5,500 manat.
In August 2013 the license was awarded to Invest Az Asset Management (charter capital of AZN 125,000), which does not reveal any information about its activities. - 08B-
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