Establishment of a mutual investment fund

Mutual investment fund (UIF) is not a legal entity. At their core, these are assets that are jointly owned by investors but are managed and accounted for by an asset management company (see how to set up an asset management company here). In other words, a mutual investment fund is a joint investment institution created and managed by an asset management company through the purchase by investors of investment certificates issued by it. The minimum amount of assets of a mutual fund cannot be less than 1250 minimum wages.

Depending on the procedure for carrying out its activities, a unit investment fund can be of an open, interval or closed type. Depending on the validity period - urgent or indefinite. According to the degree of state regulation - diversified or not diversified. It is also possible to create an individual (venture) fund. It is important to keep in mind that in the future, changing the type or type of mutual fund is prohibited.

A participant (share owner) of a mutual fund can be both a legal entity and an individual (except for non-diversified and venture mutual funds) a person (both citizens and non-residents of Ukraine) who has acquired a share in an investment fund, certified by investment certificates of this fund. But the participant does not have the right to interfere in the activities of the asset management company, except by participating in the supervisory board of the fund (with a closed placement of investment certificates).

The asset management company maintains accounting and tax records of operations and results of the activities of the mutual fund, and is also the manager of the fund's property for a fee established by the regulations of the mutual fund.

A mutual fund is created by the purchase by investors of investment certificates issued by an asset management company and is considered created from the date of its registration in the register of joint investment institutions. But this is only the beginning of the journey. Next, you need to conclude the necessary agreements, implement and register the issue prospectus, organize the placement of investment certificates (public or private). All these are very specific processes that require legal knowledge and skill. Our team has the necessary experience, skills and pressure to successfully and quickly complete all stages of the creation of a mutual fund. Our services include:

Consulting on the creation of mutual funds;
Assistance in choosing the name of the mutual fund, its type, kind, class;
Preparation of documents (draft protocols of the authorized body, regulations, investment declaration, prospectus, certificates);
Entering a mutual investment fund into the Register of joint investment institutions;
Registration of the issue of investment certificates of mutual investment funds in the relevant authority;
Full legal support of the registration process and more.

The client must provide:

name of the fund;
the period of operation of the mutual fund (for a fixed-term mutual fund);
information about the asset management company (charter, license to carry out professional activities in asset management, EDRPOU code, statements of officials, telephone number, fax number, etc.);
the minimum amount of assets (not less than 1250 minimum wages);
main directions and restrictions of investment activity;
data on the issue of investment certificates;
statements about the property appraiser, custodian, auditor with whom contracts will be concluded.

Upon completion of the registration process, the client will receive the following documents:

protocol of the authorized body of the asset management company with the decision to establish a unit fund, approve the regulations and investment declaration of the unit fund;
PIF regulations;
investment declaration;
registration code and Certificate of entry of information about the institution of joint investment in the Register;
the minutes of the authorized body of the asset management company with the decision to approve the prospectus for the issue, issue and placement of investment certificates of the mutual fund;
registered Prospectus for the issue of investment certificates of the unit fund;
an agreement with an auditor (audit firm);
an agreement with the custodian of the assets of joint investment institutions on servicing the assets of a mutual fund or on servicing a securities account;
an agreement with a property appraiser (if the investment declaration provides for investment in real estate);
certificate of registration of the issue of investment certificates of a mutual fund.

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