Circular Letter CVM/SIN No. 06/2016

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – CEP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Circular Letter No. 06/2016/CVM/SIN Rio de Janeiro, August 9, 2016 Subject: Extension of Deadline for Submission of Monthly Documents of Investment Funds – Position of July 2016

Dear Sir/Madam,

1. As provided in Article 59, item II, of CVM Instruction No. 555/2014, investment fund administrators must submit, through the Document Submission System available on the CVM website on the World Wide Web, the following documents monthly, up to 10 (ten) days after the end of the month to which they refer:

a. Balance sheet; b. Statement of Portfolio Composition and Diversification; and
c. Monthly Profile, and
d. Fund Brochure.

2. However, ANBIMA – Brazilian Association of Financial and Capital Market Entities – submitted a request asking that this deadline be extended until 8/15/2016, alleging that the original deadline for the current month is preceded by holidays decreed due to the Olympics, causing investment fund administrators, especially those based in Rio de Janeiro, to have difficulties completing their work with the reduced number of business days until 8/10/2016.

3. The aforementioned request was submitted to the CVM Board, which also considered:
   (i) that, due to the holidays on 8/4 and 8/5 and the weekend of 8/6 and 8/7 (Saturday and Sunday), investment fund administrators, especially those based in Rio de Janeiro, would have only 6 business days to prepare the aforementioned documents to meet their submission deadline of 8/10/2016; and (ii) precedents in which it had already approved an extension of the deadline for submission of the aforementioned documents to the 15th day after the end of the month to which they refer, as in cases of Carnival and Ash Wednesday holidays.

4. Therefore, the Board of this Commission, in a meeting held on this date, exceptionally extended the final deadline for submission of the documents in question, referring to the month of July 2016, to 8/15/2016.

5. Finally, we inform you that the full text of the decision in question will be made available for public consultation on the CVM website at the appropriate time.

Sincerely,

BRUNO BARBOSA DE LUNA
Superintendent of Institutional Investor Relations (in acting capacity)