Beginning from 1 February 2021, management companies (MCs) will be able to independently develop trust management rules for unit investment funds (UIFs) for qualified investors. Effective from this date, standard rules governing such UIFs are rescinded. The changes are introduced by amendments to the law on investment funds, which are coming into force.
The Bank of Russia’s ordinance establishing requirements for the rules of UIFs for qualified investors has been registered by the Ministry of Justice of Russia. The changes in regulations will give MCs more flexibility in drawing up rules, while investors will have more leeway choosing trust management terms.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.