Article 16. Creation of a mutual fund

The decision to create a mutual fund is made by the trustee.

The investor contributes funds to the mutual fund on the basis of an agreement with the trustee, providing for the pooling of investor funds in the mutual fund on the basis of common ownership.

The trustee shall issue investment units to investors within two business days after they deposit funds into his separate bank account.

Investment units are placed at a single price for all investors.

Mutual fund funds are invested in accordance with the investment declaration.

Revenues received in the process of trustee management of a mutual fund are accumulated in a separate bank account of the trustee manager.

A mutual fund is considered created from the moment it is included in the Unified register of mutual funds and the publication of relevant information on the official websites of the authorized state body for regulating the securities market and the Central securities depository.

The Unified register of mutual funds is maintained in the manner established by the authorized state body for regulating the securities market.