Regulatory Alerts2026-03-16
Added · Updated
Authorization of Merger of Closed-End Real Estate Investment Funds: JMMB Closed-End Real Estate Investment Fund II (Absorbing) and JMMB Closed-End Real Estate Investment Fund (Absorbed)
The Superintendent of the Securities Market Superintendence authorizes the merger of JMMB Closed-End Real Estate Investment Fund II as the absorbing fund and JMMB Closed-End Real Estate Investment Fund as the absorbed fund, both administered by JMMB Fund Administrator Society, S.A. The decision mandates that the absorbed fund's investors retain a redemption right, while the absorbing fund's investors do not, and requires the administrator to disclose relevant facts, risks, and conditions to ensure market transparency. The authorization does not exempt the administrator from completing subsequent modification and registration procedures with the Superintendence, which remain subject to explicit non-objection.
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