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Central Bank to Lift 70% Limit on Foreign Assets for Open-end Share Investment Funds

19.11.2014 16:58 / Interfax

Central Bank is due to lift the 70% limit on foreign assets value for Open-end Share Investment Funds, according to Bank of Russia draft directive, posted on the CB website.

Earlier, National Stock Market Participants Association appealed to the Central Bank to have the limit lifted. The SRO considers the limit does not allow to satisfy small national investors’ demand for a variety of investment strategies, including those based on foreign indexes dynamic, driving these investors to foreign financial institutions.

“We hope that limits on foreign currency assets in open-end share investment funds will be lifted in 2015”, said NAUFOR Chairman Alexey Timofeev at an emergency association meeting.

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