Article 8 Trustee manager

A trustee manager is a legal entity that performs trustee management of investment funds and (or) mutual funds on the basis of a trustee management agreement.

A trustee manager is a participant of professional securities market.

The trustee manager must own at least 5% of the average annual value of the investment assets he / she owns (net of intangible assets).

Within the limits provided for by the trust agreement, the trustee manager, who has taken over the investment fund and (or) mutual fund, shall exercise the rights of the owner with respect to their (his).

The rights and obligations of the trustee are determined by law, the charter of the investment fund, the trust agreement and the position of the investment fund on the executive body.

The trustee is obliged to organize an internal audit service in the composition and procedure determined by its charter.

The trustee shall not have the right to acquire shares of investment funds and investment units of unit trusts under his management.

The trustee shall be liable to the owners of shares of the investment fund and investment units of the mutual fund in the amount of real damage in case of violation of the legislation on investment and mutual funds.

In accordance with the trustee management agreement, a fee is paid to the trustee at the expense of the investment fund and (or) mutual fund. The total amount and features of the payment of remuneration are determined by this agreement.