What is corporate fund?

Corporate investment fund is a legal entity created in the form of open joint stock company for the purpose of carrying out joint investment activities.

Founders of the fund shall form the authorized capital at the expense of cash funds, securities, admitted to bidding at stock exchange or in official trading and information systems, and real property objects necessary to ensure charter activities. Corporate investment fund shall carry out its activities, provided that 70 or more percent of the average annual value of assets owned thereby by the right of ownership are invested in securities.

Assets of the corporate investment fund shall be managed by an assets management company based on the relevant agreement. Governing bodies of the fund shall include general shareholders meeting and supervisory board, while the general shareholders meeting shall be its superior body. Competence of the meeting shall cover approval of agreements entered with the asset management company and custodian, approval of resolutions on termination of such agreements with the asset management company and custodian, as well as approval of changes in the rules of the fund.