Circular Letter CVM/SIN No. 9/2013 – Investment Fund Transformation

CIRCULAR LETTER/CVM/SIN/No. 9/2013
Rio de Janeiro, September 6, 2013

To Investment Fund Administrators

Subject: CVM Instruction No. 536/13 – Transformation of Investment Funds

Dear Sir/Madam,

With the objective of providing greater efficacy to the decision to transform open-end investment funds into closed-end funds – Article 104, Item I of CVM Instruction No. 409/04 – on 8/23/2013, this Commission issued CVM Instruction No. 536/13, establishing automatic authorization for requests to transform investment funds that are exclusive or intended for qualified investors.

The authorization will be automatically granted upon submission to the CVM, through the Document Submission System available on the agency's website, of the documents referred to in Article 103 of CVM Instruction No. 409/04: (i) new Regulation; and (ii) Prospectus duly updated, where applicable.

Furthermore, so that this technical area can promote the registration update of the transformed investment fund, we request that the date of the effective transformation be communicated to the email address GIF_ICVM536@cvm.gov.br, which communication must also inform the name and CNPJ of the fund and the dates (i) of the general meeting of unitholders that deliberated the transformation of the fund; and (ii) of the submission of the new Regulation and Prospectus via the Document Submission System.

If additional clarification is needed, contact the Fund Monitoring Management by phone at (21) 3554-8453.

Sincerely,

FRANCISCO JOSÉ BASTOS SANTOS
Superintendent of Institutional Investor Relations