On 22 October 2020, RUS CB issued draft amendments regarding mutual funds.
- RUS CB issued draft directive making amendments to rules re trust management of a mutual investment fund, investment units intended exclusively for qualified investors.
- Shareholders of mutual investment funds, upon redemption of shares, can receive not only money, but also other property that is part of the fund (for example, real estate).
- And the shareholders of interval funds for qualified investors will be able to pay for the shares with property, not only money, and receive current income on these shares.
- From 1 February 2021 the standard rules applying to mutual funds will be canceled.
- Instead management companies (MC) of funds will be able to develop their own rules.
- These innovations will allow the management company to make more flexible rules and give investors more freedom in choosing the terms of trust management.
- Comments are requested by 5 November 2020.