INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of March 21, 2025 No. 7014-U

About the violations revealed by specialized depositary during control on which it is not required to notify the Bank of Russia

Based on the subitem 6 of Item 2 of article 45 of the Federal Law of November 29, 2001 No. 156-FZ "About investment funds":

1. This Instruction establishes the violations revealed by specialized depositary during control on which it is not required to notify the Bank of Russia:

1.1. Violation by joint-stock investment fund or managing company of mutual investment fund of procedure for cost determination of net assets of the joint-stock investment fund or mutual investment fund (further in case of joint mentioning - investment fund) provided by Chapter 1 of the Instruction of the Bank of Russia of August 25, 2015 No. 3758-U "About cost determination of net assets of investment funds, including about procedure of payments of annual average net assets value of mutual investment fund and net assets of the joint-stock investment fund, settlement cost of investment shares of mutual investment funds, property value transferred to payment of investment shares" <1> (further - the Instruction of the Bank of Russia No. 3758-U), connected with use of incorrect data on asset cost (obligations) based on which net assets value of investment fund was determined, if the variation of such asset cost (obligation) and variation of net assets value of investment fund at the time of its determination do not exceed value of such variations, stipulated in Item 1.12 Instructions of the Bank of Russia No. 3758-U.

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<1> It is registered by the Ministry of Justice of the Russian Federation on October 8, 2015, registration No. 39234, with the changes made by Instructions of the Bank of Russia of December 12, 2016 No. 4233-U (it is registered by the Ministry of Justice of the Russian Federation on January 13, 2017, registration No. 45188), of April 20, 2020 No. 5447-U (it is registered by the Ministry of Justice of the Russian Federation on May 26, 2020, registration No. 58470), of June 28, 2024 No. 6779-U (it is registered by the Ministry of Justice of the Russian Federation on October 2, 2024, registration No. 79680).

1.2. Excess no more than for 10 percent (if according to documents (data, information), available specialized depositary, such excess is eliminated as of date of its identification by specialized depositary):

1.2.1. The extreme size of share of aggregate estimated value of the securities intended for skilled investors and the cost of lots of the derivative financial instruments intended for skilled investors, established by the paragraph the fifth Item 2.2 of the Instruction of the Bank of Russia of September 5, 2016 No. 4129-U "About structure and structure of assets of joint-stock investment funds and assets of mutual investment funds" <2> (further - the Instruction of the Bank of Russia No. 4129-U) or based on part two of article 34 of the Federal Law of November 29, 2001 No. 156-FZ "About investment funds" (further - the Federal Law No. 156-FZ) the investment declaration of joint-stock investment fund by which charter is not provided that its shares are intended for skilled investors and which name does not contain specifying on real estate and (or) the rights to real estate or to their types, the investment declaration of the mutual investment fund relating to stipulated in Item 1.2 Instructions of the Bank of Russia No. 4129-U of category of funds of market financial instruments (further in case of joint mentioning - the investment declaration of fund of market financial instruments), in asset cost of such investment fund.

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<2> It is registered by the Ministry of Justice of the Russian Federation on November 15, 2016, registration No. 44339, with the changes made by Instructions of the Bank of Russia of April 6, 2017 No. 4346-U (it is registered by the Ministry of Justice of the Russian Federation on May 11, 2017, registration No. 46679), of May 15, 2019 No. 5143-U (it is registered by the Ministry of Justice of the Russian Federation on August 6, 2019, registration No. 55501), of April 20, 2020 No. 5444-U (it is registered by the Ministry of Justice of the Russian Federation on May 13, 2020, registration No. 58335), of March 21, 2022 No. 6093-U (it is registered by the Ministry of Justice of the Russian Federation on June 16, 2022, registration No. 68876), of August 2, 2023 No. 6495-U (it is registered by the Ministry of Justice of the Russian Federation on September 27, 2023, registration No. 75346).

1.2.2. The investment declaration of fund of market financial instruments of extreme size of share of aggregate value of the assets provided by the paragraph the eighth Item 2.1 of the Instruction of the Bank of Russia No. 4129-U i of the rights included in its structure in connection with realization affirmed by the securities constituting investment fund or provided by the derivative financial instruments constituting investment fund in asset cost of such investment fund established by the paragraph the seventh Item 2.2 of the Instruction of the Bank of Russia No. 4129-U or based on part two of article 34 of the Federal Law No. 156-FZ.

1.2.3. The investment declaration of investment fund of extreme size of share of aggregate value of the assets provided by the specified paragraph established by paragraph one of Item 2.10 of the Instruction of the Bank of Russia No. 4129-U or based on part two of article 34 of the Federal Law No. 156-FZ in asset cost of such investment fund.

1.2.4. The investment declaration of investment fund of extreme size of share of aggregate value of the assets provided by the specified paragraph established by the paragraph the second Item 2.10 of the Instruction of the Bank of Russia No. 4129-U or based on part two of article 34 of the Federal Law No. 156-FZ in asset cost of such investment fund.

1.2.5. The investment declaration of investment fund of extreme size of share of aggregate value of the assets provided by the specified paragraph established by the paragraph the tenth Item 2.10 of the Instruction of the Bank of Russia No. 4129-U or based on part two of article 34 of the Federal Law No. 156-FZ in net assets value of such investment fund.

1.2.6. The investment declaration of investment fund of extreme size of share of aggregate value of the assets specified in paragraph ten of Item 2.10 of the Instruction of the Bank of Russia No. 4129-U established by the paragraph the eleventh Item 2.10 of the Instruction of the Bank of Russia No. 4129-U or based on part two of article 34 of the Federal Law No. 156-FZ taking into account the repurchase agreements and transactions signed earlier, the specified in paragraph eleven of Item 2.10 of the Instruction of the Bank of Russia No. 4129-U i of the borrowed funds provided by the subitem 5 of Item 1 of article 40 of the Federal Law No. 156-FZ, in net assets value of such investment fund.

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