Registered by
Ministry of Justice
Russian Federation
On October 8, 2015 No. 39234
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
This Instruction based on the Federal Law of November 29, 2001 No. 156-FZ "About investment funds" (The Russian Federation Code, 2001, No. 49, Art. 4562; 2004, No. 27, Art. 2711; 2006, No. 17, Art. 1780; 2007, No. 50, Art. 6247; 2008, No. 30, Art. 3616; 2009, No. 48, Art. 5731; 2010, No. 17, Art. 1988; No. 31, Art. 4193; 2011, No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 31, Art. 4334; 2013, No. 26, Art. 3207; No. 27, Art. 3477; No. 30, Art. 4084; No. 51, Art. 6695, Art. 6699; 2014, No. 11, Art. 1098; 2015, No. 27, the Art. 4001) (further - the Federal Law "About Investment Funds"), the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219, No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, of the Art. 4348) establishes procedure and terms of cost determination of net assets of investment funds (further - net assets value), including procedure of payments of annual average net assets value of mutual investment fund and net assets of joint-stock investment fund, net assets value of joint-stock investment funds counting on one share, determinations of settlement cost of investment shares of mutual investment funds, procedure for cost determination of the property transferred to payment of investment shares.
1.1. Cost determination of net assets of investment funds is performed according to the Federal Law "About Investment Funds", regulations adopted according to it, this Instruction and the local act of joint-stock investment fund or managing company of mutual investment fund (further - Rules of cost determination of net assets).
Rules of cost determination of net assets shall conform to requirements of the legislation of the Russian Federation, including this Instruction and other regulations of the Bank of Russia.
The managing company of mutual investment fund and joint-stock investment fund shall determine net assets value according to the Rules of cost determination of net assets approved by specialized depositary.
1.2. Net assets value is determined as difference between the cost of all assets of mutual investment fund or assets of joint-stock investment fund (further - assets) and the size of all obligations which are subject to execution at the expense of the specified assets (further - obligations), at the time of cost determination of net assets.
1.3. The asset cost and size of obligations are determined at fair value according to the International accounting standard (IFRS) 13 "Assessment of fair value" <1> with observance of requirements of this Instruction, except as specified cost determinations of assets by the cost other than fair value, according to paragraphs the second - the fifth this Item.
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<1> No. 217n "About introduction of International accounting standards and Explanations of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders (separate provisions of orders) of the Ministry of Finance of the Russian Federation" is enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of December 28, 2015 (registration No. 40940) is registered by the Ministry of Justice of the Russian Federation on February 2, 2016, with the changes made by the order of the Ministry of Finance of the Russian Federation of July 11, 2016 No. 111n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation" (registration No. 43044) (further - the order of the Ministry of Finance of the Russian Federation No. 111n is registered by the Ministry of Justice of the Russian Federation on August 1, 2016), with amendments, enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of June 27, 2016 No. 98n "About introduction of documents of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders of the Ministry of Finance of the Russian Federation" (registration No. 42869) (further - the order of the Ministry of Finance of the Russian Federation No. 98n is registered by the Ministry of Justice of the Russian Federation on July 15, 2016), the order of the Ministry of Finance of the Russian Federation No. 111n.
In the cases provided by Rules of cost determination of net assets and in case of observance of the conditions provided by Chapter 5 of the International Financial Reporting Standard (IFRS) 9 "Financial instruments" <2> (further - IFRS (IFRS) 9), according to the decision of managing company of mutual investment fund (joint-stock investment fund) made in case of the first cost determination of the following assets, the subsequent determination of their cost is performed only on depreciated cost according to IFRS (IFRS) 9:
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