Bank of Russia Expands UIF Portfolio Options
The Bank of Russia has introduced new investment rules for Retail Unit Investment Funds (UIFs), expanding their portfolio options and revising concentration limits.
According to the ordinance, retail UIFs will now be able to invest in a wider range of unlisted instruments, including shares and bonds of Russian issuers. They can also purchase investment units not intended for qualified investors. However, the proportion of unlisted assets in a UIF's portfolio is limited.
Additionally, UIFs will be allowed to invest qualified investors' funds in cash-settled cryptocurrency derivatives. The revised ordinance also changes the method of calculating concentration limits for retail UIFs, applying it to affiliated organizations rather than individual companies.