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Ministry of Justice of Ukraine

May 17, 2012

No. 787/21100

DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of April 26, 2012 No. 582

About approval of the Regulations on requirements to persons performing professional activity on asset management of institution investors (activities for asset management) concerning structure and structure of assets of non-state pension funds which they manage

(as amended on 09-09-2021)

According to Item 13 to article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine" and articles 47 and 49 of the Law of Ukraine "About non-state pension provision" the National commission on securities and the stock market RESHILA:

1. Approve Regulations on requirements to persons performing professional activity on asset management of institution investors (activities for asset management) concerning structure and structure of assets of non-state pension funds which they manage it (is applied).

2. Declare invalid the decision of State commission on securities and the stock market of December 10, 2003 No. 560 "About approval of the Regulations on requirements to persons performing professional activity on asset management of institution investors (activities for asset management) concerning structure and structure of assets of non-state pension funds which they manage", registered in the Ministry of Justice of Ukraine on December 24, 2003 for No. 1210/8531 (with changes).

3. To provide to department of joint investment and regulation of activities of institution investors (O. Simonenko) submission of this decision on state registration in the Ministry of Justice of Ukraine and publication of this decision according to the legislation.

4. (Yu. Zhuly) to provide to department of external and internal communications publication of this decision according to the legislation of Ukraine.

5. This decision becomes effective from the date of its official publication.

6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market O. Tarasenko.

 

Commission chairman
D. Tevelev

Approved by the Decision of the National commission on securities and the stock market of Ukraine of April 26, 2012 No. 582

Regulations on requirements to persons performing professional activity on asset management of institution investors (activities for asset management) concerning structure and structure of assets of non-state pension funds which they manage

I. General provisions

1.1. This Provision developed according to the Laws of Ukraine "About non-state pension provision" "About the capital markets and the organized goods markets", "About state regulation of the capital markets and the organized goods markets", establishes requirements to persons performing professional activity on asset management of institution investors (activities for asset management) concerning structure and structure of assets of the non-state pension funds (further - the pension fund) which are in their management.

Action of this Provision extends to persons who obtained the license for implementation of professional activity in the capital markets - activities for asset management of institution investors (activities for asset management) (further - Persons). 

1.2. Requirements to Persons concerning structure and structure of assets of the pension fund which assets they manage are determined by the investment declaration of this pension fund developed and approved by council of fund and which is brought to the attention of Persons and this Provision.

1.3. Requirements to Persons concerning structure of assets of the pension funds which assets they manage, before achievement of amount of assets by the pension fund in the amount of 500 thousand hryvnias, but for the term of no more than 18 months from the date of inclusion of the pension fund in the State register of financial institutions are applied according to requirements of the Section ІІІ this Provision, at the same time such Person does not have enough:

keep on bank deposit accounts and in savings certificates of banks up to 95 percent of total cost of pension assets, but no more than 20 percent of total cost of pension assets in obligations of one bank;

acquire or to invest in addition in securities on which income is guaranteed by the Cabinet of Ministers of Ukraine, to 80 percent of total cost of pension assets;

acquire or in addition to invest in bank metals, including by opening of the current and deposit accounts in organizations of banks in bank metals, up to 40 percent of total cost of pension assets.

II. General requirements to Persons concerning structure of assets of the pension funds

2.1. In structure of assets of the pension fund belong:

assets in money, including in foreign currency;

assets in securities;

other assets according to the legislation.

2.2. Pension assets in securities consist from:

securities, repayment and income acquisition on which it is guaranteed by the Cabinet of Ministers of Ukraine, Council of Ministers of the Autonomous Republic of Crimea, local councils according to the legislation;

shares of the Ukrainian issuers;

bonds of the Ukrainian issuers which credit rating answers the investment grade on the National rating scale determined by the legislation of Ukraine or which according to legislation regulations admitted to trading in the controlled stock market that meets the requirements established by the National commission on securities and the stock market;

securities, repayment and income acquisition on which it is guaranteed by the governments of foreign states at the same time establishment of requirements to the rating of external debt and determination of the rating companies are performed by the National commission on securities and the stock market;

bonds of the international financial institutions placed in the territory of Ukraine;

bonds of foreign issuers (except bonds of the international financial institutions placed in the territory of Ukraine) with the investment rating determined according to the paragraph the fifth this Item;

shares of foreign issuers which are traded on the controlled stock markets and admitted to trading on one of such stock exchanges as New York, London, Tokyo, Frankfurt, or in the NASDAK (NASDAQ) trade and information system. The issuer of these shares shall perform the activities at least within 10 years and to be resident of the country which rating of external debt is determined according to the paragraph the fifth this Item;

mortgage bonds.

2.3. Pension assets of the pension fund in securities cannot include:

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