On 21 April 2020, RUS CB issued mutual funds information directive.
- Bank of Russia has developed new disclosure requirements for asset managers (UK).
- Required to give investors access to complete information, whether acquiring mutual investment fund (UIF) shares or evaluating performance of a management company.
- The corresponding draft directive has been published on the Bank of Russia website.
- Basic mutual fund information will be issued monthly in a key information document.
- Includes details of profitability, investment risks, commissions, largest asset positions.
- Management firms will publish information on events affecting investment unit value.
- All information about the UK and UIF funds will be disclosed on the official UK website.
- Similar requirements are established for information on joint-stock investment funds.
- The Bank of Russia anticipates that the directive come into effect on 1 April 2021.
- Comments to be received by 15 May 2020.