The National Securities Commission (CNV) approved the first Common Investment Fund (FCI) Open for qualified investors provided for in the law that regulates this type of activities.
It is about Article 7 bis of the Fund Law which was added last year, to allow these types of options that are obviously not for the general public.
“It should be noted that The RG (General Resolution) No. 1030 enabled various types of funds that have different requirements to the remaining common investment funds, ”said the agency.
In that sense, the CNV emphasizes that “this type of funds, It is destined exclusively to qualified investors, and has lower limits and diversification demands in the investment of its assets ”.
He President of the CNV, Roberto Silva, He stressed that “it is the first time that in our country a fund is constituted with these characteristics.”
What will the new FCI approved by the CNV be?
“Saying Fund will be called in pesos and will mainly invest in financial instruments and negotiable values issued in the country, according to the special guidelines contained in General Resolution No. 1030 recently issued by this body, ”he said.
The regulations indicate that whether a FCI invests in one or more investment funds including Exchange Traded Funds (ETF) directly or as a underlying of a transfer, The Manager Society must seek an adequate dissemination mechanism among its quotapartists of the fees regime, commissions and expenses corresponding to the investment objects.
The rule indicates that “it cannot be invested in quotas of Common investment funds registered in the country and/or abroad in a percentage greater than 25% of the substantive net worth ”.
“Investments abroad They must consist of assets that have a public offering authorization by securities commissions or other foreign control agencies, that do not belong to non -cooperating countries for the purposes of fiscal transparency in the terms of article 24 of the Annex member of Decree No. 862/2019 and modifying or that they are considered as not cooperators or high risk by the International Financial Action Group (GAFI), ”says the regulations.
Source: Ambito
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