Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
From March 1, 2026, mutual investment funds (MIF) will be able to change their status from “qual” to “non-qual”. The conditions necessary for reclassification are spelled out ininstructions of the Bank of Russia.
This opportunity is of interest primarily to those funds whose investment strategy initially assumed investments in high-risk projects, such as the construction of a shopping center or warehouses. However, subsequently, after the buildings are put into operation, such funds are ready to switch to a more conservative strategy.
In order to reclassify the fund, the management company will, in particular, need to bring the rules of trust management, as well as the composition and structure of the fund, into line with the requirements for mutual funds for non-qualified investors.
By the time the documents, including the adjusted rules, are sent to the Bank of Russia for registration, all units must be paid in full, and there must be no restrictions or grounds for termination with respect to the mutual fund itself.
The change of status will allow qualified investors to exit the project after the completion of its risky stage and attract new shareholders who will be able to receive investment income.
Preview photo: Cagkan Sayin / Shutterstock / Fotodom
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