Article 6. Asset management of the Investment Fund of the Law on Investment and Venture Funds

Home / RLA / Article 6. Asset management of the Investment Fund of the Law on Investment and Venture Funds

1. Investment management of the assets of an investment fund is carried out by the management company in order to generate income for shareholders or holders of investment fund units and ensure risk reduction in such investments.

A joint-stock investment fund does not have the right to independently manage its investment portfolio.

2. The property of a joint-stock investment fund is divided into property intended for investment and property intended to support the activities of the joint-stock investment fund and its bodies, in the ratio determined by the charter of the joint-stock investment fund.

The property of the joint-stock investment fund intended for investment must be transferred to the investment management of the management company.

3. During the period of validity of the trust management agreement for the property of the joint-stock investment fund intended for investment, the joint-stock investment fund is not entitled to perform any actions with respect to the property under trust management.

The Law of the Republic of Kazakhstan dated July 7, 2004 No. 576.

This Law defines the legal status, specifics of the creation, operation, reorganization and liquidation of a joint-stock investment fund, the conditions and procedure for the creation, operation and termination of a mutual investment fund, the specifics of the legal status and activities of venture funds in the Republic of Kazakhstan, regulates relations related to the activities of professional securities market participants to ensure the functioning of investment funds, and It also defines the procedure for state regulation of investment funds.

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