Pepeliaev Group and Delovaya Rossiya Have Drafted Amendments to the Bank of Russia’s Instruments to Support the Development of Industrial Closed-End Mutual Investment Funds

As part of the strategic partnership between Delovaya Rossiya’s Subcommittee on Industrial Closed-End Mutual Investment Funds and Pepeliaev Group, a draft set has been prepared of amendments to regulatory instruments of the Bank of Russia, including Regulation No. 590-P. The initiative is aimed at improving the regulatory framework for structuring how industrial projects are financed through closed-end mutual investment fund instruments and at establishing sustainable mechanisms for attracting long-term private capital into the real sector of the economy.

The proposed amendments are intended to remove regulatory barriers to the implementation of industrial projects through closed-end mutual investment fund instruments, including in synergy with institutions of development. The implementation of the initiative is expected to enhance how this mechanism applies for market participants in practical terms and to support the launch of capital-intensive import substitution and technological modernisation projects.

“We place a high value our co-operation with Delovaya Rossiya and the opportunity to work together on solutions that improve regulatory efficiency while creating clearer conditions for attracting long-term capital into industry. We expect that the proposed amendments will facilitate the practical launch of new financing mechanisms for projects in the real sector”.

Lidia Gorshkova

Partner at Pepeliaev Group