Mutual investment fund

a property complex without creating a legal entity, the trust management of whose property is carried out by the management company in order to increase the property of the corresponding P.i.f. As investors P. and. f. individuals and legal entities may act. State bodies and local self-government bodies cannot be P.i.f. investors. Property P.i.f. consists of funds transferred to trust management of investors and incremental property, incl. property rights acquired by the management company in the process of trust management of investors' funds. Education P.i.f. is carried out through the acquisition by investors of investment shares issued by the management company, which involves the conclusion of an agreement on trust management of property. In accordance with the trust management agreement, the management company undertakes to manage the property of P.I.F. solely for the benefit of investors. P.i.f. can be open (if the management company assumes the obligation to redeem the investment units issued by it at the request of the investor within the period established by the P.I.F. rules, but not exceeding 15 working days from the date of presentation of the request) or interval (if the management company accepts undertake the obligation to redeem the investment units issued by it at the request of the investor within the time period established by the PIF rules, but at least once a year).