The American investment company Franklin Templeton Asset Management has officially begun managing the assets of Uzbekistan’s National Investment Fund (UzNIF), Kun.uz reports, citing the company.
UzNIF was established in August 2024 and is fully owned by the Ministry of Economy and Finance of Uzbekistan. Its portfolio includes shares in 18 strategic state-owned enterprises, such as Uzbekistan Airways, Uzbektelecom, UzInsurance, Navoiazot, and others.
According to assessments by Deloitte and KPMG, the fund’s initial net asset value stands at $1.68 billion. UzNIF’s main goals are to improve the performance of state enterprises, enhance corporate governance, and attract foreign investment.
Franklin Templeton has already opened an office in Tashkent to support UzNIF’s operations and coordinate with local partners. The team includes experts in investment, law, operations, and investor relations.
Marius Dan, General Director of Templeton Global Investments for Central Asia, said the next step will be preparing the fund for IPOs on both the Tashkent Stock Exchange and an international stock exchange. The company also plans to actively build ties with global investors.
Franklin Templeton’s management of the fund was first announced in February this year.
By the end of 2026, UzNIF shares are expected to be listed on the Tashkent and international stock exchanges, including the London Stock Exchange.
CentralasianLIGHT.org
May 2, 2025