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A fund is a pool of money allocated for a specific purpose. A fund can be established for any purpose whatsoever, whether it is a city government setting aside money to build a new civic center, a college setting aside money to award a scholarship, or an insurance company setting aside money to pay its customers’ claims.
In the realm of investments, some types of funds include Mutual funds, Money-market funds, Exchange-traded funds (ETFs), Hedge funds, Government bond funds, Islamic bonds or SUKUK, etc.
Iran capital market enjoys almost all types of funds. There are three big categories of funds available in Iran:
1. Equity Funds: 
    a.Fixed income funds: They may contain 20 – 25 percent equities and 80  – 75 percent fixed income securities,
    b.Equity funds: They may contain 70 percent equities and 30 percent   fixed income securities; and
    c.Balanced funds: They may contain 40 / 60 percent of both.

2. Non-equity funds: They may include REITS, project funds, endowment  funds (socially responsible fund), private equity funds, venture funds,  fund of funds, ETFs, and

3. Commodity funds: They are commodity based funds.
 Currently 213 funds are active while there are different types of funds in  line to obtain necessary licenses by the SEO.
The regulatory framework for fund in Iran capital market is available on Research, Development & Islamic Studies Department