YEREVAN, June 18. /ARКА/. The National Assembly of Armenia adopted an amendment to the law “On Investment Funds” in its first reading at its session on Thursday.
As stated by RA Deputy Minister of Economy Lilia Sirakanyan, the proposal is to increase the maximum number of participants in a private investment fund from 49 to 99.
“A private fund will be allowed to have no more than 99 participants. If this threshold is exceeded, the fund is required to either re-register as a public fund within 90 calendar days or reduce the number of participants to the established level. Otherwise, it is subject to liquidation by court order,” Sirakanyan said.
According to her, the current limit of 49 participants is no longer consistent with market developments and the logic of related legislation. Between 2020 and 2024, the number of private investment funds in Armenia more than tripled, from 36 to 112.
Sirakanyan noted that the key characteristic of a private fund is not so much the number of participants as the ban on public offerings of its securities.
“The current threshold of 49 participants seems overly restrictive. The new limit of 99 participants is more consistent with the existing regulatory system,” the deputy minister said.
