A general view shows the Azadi Tower, also known as Liberty Tower, which is a landmark in the Iranian capital at the western entrance of Tehran on April 1, 2015. AFP PHOTO / ATTA KENARE
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A final deal that removes international sanctions against Iran may still be months away, but foreign investors aren't waiting to pile into the market.London-based money managers including Charlemagne Capital Ltd. and First Frontier Capital Ltd. are putting together sanctions-compliant funds to allow investors to buy Iranian equities ahead of the buzz they expect a final deal will generate.While there's the possibility, of course, that the preliminary pact Iran carved out with global powers doesn't lead to a full-fledged deal, the money managers are in essence saying they'd rather run the risk of arriving too early than miss a rally in Tehran's $110 billion equity market. Charlemagne projects that Iran's economy could grow between 6 and 8 percent without the burden of sanctions, compared with estimates of between 1 and 3 percent in 2014 .The company, with $2.3 billion under management in emerging markets, is working with Tehran- based Turquoise Partners to co-manage a $70 million fund.
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