• 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.

Effectiveness

• Comments to be received by 15 May 2020.