Translation. Region: Russian Federation –
Source: Moscow Exchange – Moscow Exchange –
An important disclaimer is at the bottom of this article.
In October 2025, the first placement of interval mutual fund units on the Moscow Exchange, following IPO/SPO standards, was completed. The transactions were conducted in test mode.
Astra Management Company issued new units of the mutual fund for qualified investors “Hedge Fund R5” (trading code – RU000A105153) and “Hedge Fund D5” (trading code – RU000A106MG3) within the open interval.
Boris Blokhin, Managing Director for Stock Market and Digital Assets at Moscow Exchange:
"Placing units of interval funds using exchange-traded infrastructure significantly simplifies the process, reduces costs, and expands the pool of potential clients for management companies. This year, management companies have already completed 14 closed-end and interval fund placements, totaling almost two billion rubles. We are confident that the active use of infrastructure services by management companies will provide additional impetus for increasing the accessibility of the Russian collective investment market."
The placement of fund units is carried out in a separate trading mode and consists of several stages: collecting orders, activating them, and concluding transactions. On behalf of the management company, the underwriter acts as the seller of new fund units. The placement mode for issuing new units of established mutual funds on the Moscow Exchange began in December 2020 and is actively used by management companies to place units of closed-end mutual investment funds, including those intended only for qualified investors.
Around 10 management companies have already taken advantage of the opportunity to place shares using the exchange infrastructure.
Today, nearly 200 units of various mutual investment funds from over 40 Russian management companies are available to investors on the Moscow Exchange.
Moscow Exchange is Russia's largest exchange and the only multifunctional platform for trading stocks, bonds, derivatives, currencies, money market instruments, and commodities. The Moscow Exchange Group includes a central depository and a clearing center that acts as a central counterparty in the markets, enabling Moscow Exchange to provide its clients with a full range of trading and post-trading services.
Contact information for media: 7 (495) 363-3232PR@moex.com
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