Circular No. 1.023

CIRCULAR N. 001023 ------------------ We inform that the Board of the Central Bank, in a session held on this date, based on the provisions of item II of Resolution No. 1.118, of 04.04.86, decided that: a) Mutual Investment Funds, constituted in the form of item I, of art. 6, of the Regulation annexed to Resolution No. 1.022, of 05.06.85, may not maintain more than 75% (seventy-five percent) of the total value of their investments in shares; b) of the remaining resources defined in item I of art. 10 of the aforementioned Regulation, 75% (seventy-five percent), at minimum, must be invested in federal public debt securities. 2. The adaptation to the provisions of this Circular must be carried out with the mandatory application of, at minimum, 75% (seventy-five percent) of the net resources received as of this date in fixed-income securities, with, at minimum, 75% (seventy-five percent) of these in federal public securities. 3. Funds constituted as of this date must immediately observe the limit established in subitems "a" and "b". 4. This Circular shall enter into force on the date of its publication. Brasília-DF, 15 April 1986 Luiz Carlos Mendonça de Barros Director