Monetary bureau was the first state lending institution of a bank nature in the Russian empire. It was established at Peter I to mint coins. Later this office proceeded to offer banking services and issued loans on securities such as gold and silver at an amount not exceeding 75% of their total cost at an rate of 8% per annum with the right to postpone payment for 3 years. Only courts enjoyed money changing services
Main / Private clients / Equity market operations /
Bank-managed mutual fund
Russian International Bank offers trust assets management service:
What is a Bank-Managed Mutual Fund?It is a big investment pool combining medium and large investors. Unlike deposit, the rate of return does not depend on the value of invested funds. High experienced specialists of our bank will take care about your return. From the moment of transfer of assets to Bank-Managed Mutual Fund all your monetary resources are credited to trust management account opened with Russian International Bank and securities are credited to trust management account opened with authorized depository. This will save your assets and at that Russian International Bank will be under control of the Central Bank of the Russian Federation and Federal Service for Financial Markets.
When our clients invest their funds into Bank-Managed Mutual Funds they obtain a share participation certificate that entitled them to share of property in stocks. This certificate is not a security and cannot be sold in the market, however, it can be devised or reassign for another person.
Where does the Bank-Managed Mutual Fund invest?
Objects of trust management in the Bank-Managed Mutual Fund:
• monetary funds;
• foreign currency;
• securities;
• derivative securities.
Investment declaration of Russian International Bank contains information about maximum value and property value in the Bank-Managed Mutual Fund, share of every type of property, every kind of securities (bonds, shares, promissory notes and others) included in investment portfolio of the Bank-Managed Mutual Fund; share of funds place in currency valuables; sectorial diversification of deposits (by industries – issuers).
Commission to the Trustee is formed from the main fee and premium:
• main fee - 1.5% per annum of the Fund net assets cost;
• premium - 15% of increment value of Fund’s net assets cost.
In the event that the Management promoter retires from the Fund or on partial return of property from the Fund till the end of the year starting from the date of the Management Promoter joined the Fund, the Management Promoter shall pay a commission to the Trustee for each Nominal Share considered in favor of this Management Promoter in the following amount and depended on the period passed from the date when the property was transferred to the Fund till the date when the property was withdrawn from the Fund.
|
Term elapsed as of the date the property was transferred to the Fund |
Commission (with VAT), % |
|
Up to 90 days |
2 |
|
91 up to 180 days |
1 |
|
181 up to 365 days |
0.5 |
|
366 days and more |
not charged |
Contacts
Tel.:+7(495)782-0366
