Gazeta.KZ- Hedge funds for qualified investors could appear in Russia as soon as next year, as the State Duma is due to discuss the second reading of amendments to the bill oninvestment funds shortly, Tatyana Medvedeva, an expert with the Federal Service for Financial Markets, told RBC Daily.
The amendments, she said, would allow asset management companies to make highly profitable operations, including with derivatives. The categories of hedge funds will be defined using the regulations of the Federal Service for Financial Markets. Russian hedge funds are expected to become a popular investment tool.
Earlier this week, the State Duma Banking Committee considered several dozen amendments to the bill on investment funds, recommending many of them for second reading approval by the State Duma. The amendments were prepared by the Federal Service for Financial Markets and submitted to the State Duma by Vladislav Reznik, Chairman of the State Duma Banking Committee.
Approval of the amendments by the Duma would provide an opportunity for hedge funds to appear in Russia, Tatyana Medvedeva told RBC Daily. “Although the bill does not define hedge funds, the possibility of their creation will be ensured by several provisions contained in the bill,†she said. “The bill expands opportunities for asset management companies of closed-end and interval funds to carry out operations with various instruments and speculative operations aimed at earning high profits, including operations with derivatives. As for the categories of hedge funds, they will be defined in the regulations of the Federal Service for Financial Markets,†Medvedeva said. In addition, the appearance of hedge funds in Russia will require the definition of qualified investors, for which these funds are to be designed.
