Regulatory Alerts2015-08-25 | ЎРҚ-392Added · Updated
Law of the Republic of Uzbekistan on Investment and Unit Funds
The Law establishes the legal framework for investment and unit funds, defining investment funds as joint-stock companies and unit funds as pooled assets managed by trustees. It mandates that trustees hold capital equal to at least 5% of the average annual value of managed assets and prohibits them from acquiring the funds' own shares or units. The legislation requires the creation of investment declarations outlining asset composition and risk, sets a maximum five-year term for unit fund management contracts, and restricts the formation of investment funds to reorganization from existing investment entities or new legal entity creation.
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