Circular Letter CVM/SIN 02/2012

CIRCULAR LETTER CVM/SIN No. 2/2012
Rio de Janeiro, June 6, 2012
Subject: New monthly profile and daily report of investment funds

Dear Sirs,

CVM Instruction No. 512, of December 20, 2011, amended the "Daily Report" and "Monthly Profile" documents, provided for in Article 71 of CVM Instruction No. 409/04.

This Circular Letter aims to guide investment fund administrators regarding doubts about the deadline and method of sending such documents.

According to the amendment introduced by Article 2 of CVM Instruction No. 512, the deadline for the administrator to send the "Daily Report" to the CVM will be 1 (one) business day, starting from 07/02/2012. Therefore, the daily report relating to the position of 07/02/2012 must be sent by 07/03/2012, already in the new document standard with the two additional fields created ("Total value of planned cash outflows" and "Total value of assets subject to financial liquidation").

July 2, 2012, will be the final deadline for sending the daily report relating to June 28, 2012, which may be sent in the old document standard (without the fields "Total value of planned cash outflows" and "Total value of assets subject to financial liquidation"). The daily report relating to June 29, 2012, may also be sent in the old standard until July 3, 2012.

The "Monthly Profile" document, relating to the month 06/2012, must be sent to the CVM by July 10, 2012, already in the new standard established by CVM Instruction No. 512.

Finally, aiming to eliminate common typing errors in form screens, we inform that from July 2, 2012, it will only be possible to send the daily report and the monthly profile via XML file upload, as the option to send via form will be deactivated.

Sincerely,

Signed original by
Claudio Gonçalves Maes
Superintendent of Institutional Investor Relations In exercise