CONASEV Resolution No. 057-2011

Lima, June 30, 2011

HAVING SEEN:

File No. 2010016382 as well as Report No. 341-2011-EF/94.06.2 dated June 17, 2011, presented by the Autonomous Assets Directorate, with the favorable opinion of the General Management;

CONSIDERING:

That, through CONASEV Resolution No. 012-2008-EF/94.01.1 of February 27, 2008, the operation of NCF Sociedad Administradora de Fondos de Inversión S.A. was authorized to administer only investment funds and its registration was ordered in the corresponding section of the Public Registry of the Securities Market;

That, through a document presented on May 14, 2010, complemented on June 10, 2010, September 10 and 21, 2010, April 11, 2011, May 9, 2011, and June 3, 2011, NCF Sociedad Administradora de Fondos de Inversión requested authorization to operate to administer mutual investment funds in securities;

That, in accordance with what is established in Article 12 of the Law of Investment Funds and their Administrating Companies, approved by Legislative Decree No. 862, investment fund administering companies that fall under the competence of CONASEV may additionally administer mutual investment funds in securities provided they submit to the regulation regarding said funds approved by CONASEV;

That, from the evaluation of the documentation presented, it has been determined that the Administrating Company has complied with what is established in Article 33 of the Regulations of Mutual Investment Funds in Securities and their Administrating Companies, approved through CONASEV Resolution No. 068-2010-EF/94.01.1;

That, in concordance with what is established in Article 108 of the Regulations of Investment Funds and their Administrating Companies, approved through CONASEV Resolution No. 42-2003-EF/94.10 and, Article 124 of the Regulations, NCF SAFI has adapted its corporate name, which will be NCF Sociedad Administradora de Fondos S.A. and its abbreviated denomination NCF SAF S.A.; and,

Being in accordance with what is provided by subsection a) of Article 2 of the Unified Concorded Text of the Organic Law of CONASEV, approved by Law Decree No. 26126, Article 12 of the Law of Investment Funds and their Administrating Companies, Legislative Decree No. 862 and its modifications, Article 33 of the Regulations of Mutual Investment Funds in Securities and their Administrating Companies, approved through CONASEV Resolution No. 068-2010-EF/94.01.1, the Unified Text of Administrative Procedures of CONASEV, approved by Supreme Decree No. 056-2002-EF, subsection I) of Article 6 of the Regulations of Organization and Functions of CONASEV, approved by Supreme Decree No. 038-2007-EF; as well as to what was agreed by the Board of Directors of CONASEV met in session on June 27, 2011;

IT IS RESOLVED:

Article 1.- Authorize the operation of NCF Sociedad Administradora de Fondos S.A., who may also use the abbreviated denomination NCF SAF S.A., to administer mutual investment funds in securities and order the modification of its registration in the corresponding section of the Public Registry of the Securities Market.

Article 2.- This resolution will enter into force the day following its publication in the Official Gazette El Peruano.

Article 3.- Order the dissemination of this Resolution in the Official Gazette El Peruano and in the CONASEV Portal.

Article 4.- Transcribe this Resolution to NCF Sociedad Administradora de Fondos S.A.

Register, communicate, and publish.

Michel Canta Terreros President