The National Investment Fund of Uzbekistan has engaged the Singaporean company Franklin Templeton as its professional manager. This information was reported by the Ministry of Economic Development and Finance.

The subsidiary of the holding, Franklin Templeton Asset Management FE LLC, has signed a corresponding agreement with the NIF. The government anticipates that this will support the country's economic development and attract international investors.

Franklin Templeton will manage an investment portfolio that includes shares of 18 state companies and banks. Additionally, it will prepare the NIF and the enterprises within its portfolio for listing on local and foreign exchanges.

To achieve this, the managing holding will revise the companies' strategies, develop, and implement their transformation programs. It is planned to align corporate and financial governance, internal audit, and risk management systems with global standards, as well as organize staff training.

Shavkat Mirziyoyev decreed the establishment of the National Investment Fund in August 2024. Its main objectives are to increase the market value of the assets under its management, reform them, and attract international institutional investors.

The NIF will manage stakes ranging from 20% to 40% in Uzbekistan Airways, Uzbekistan Airports, Uzpost, Navoi Azot, Uzbektelecom, MKBank, the National Bank, and other organizations. Until the public offering of shares, the sole shareholder of the NIF is the Ministry of Economic Development and Finance.

The creation of the National Investment Fund in Uzbekistan has been discussed with the Singaporean investment company Franklin Templeton since January 2023. It was planned to transfer shares of several state-owned enterprises to it, which had previously been identified for privatization.

Earlier, Spot reported that UzAuto Motors decided to pay out 264 billion soums in dividends to its shareholders.