OREANDA-NEWS. December 17, 2007. Beginning with December 17, 2007 Russian Post’s customers can invest money in Unit Investment Funds (UIF) in all post offices, reported the press-centre of Russian Post.

Postal clients will find the procedure of investment comfortable. It’s necessary to give operator a copy of ID-document and application for joining the regulations of trust management of unit investment funds (all forms are presented at web-site www.pif-na-pochte.ru and can be printed from it or in public access outlets at post). After it client sends money by postal order to Unit Investment Funds. Operator identifies client, checks documents, signs, stamps calendar date, gets money and gives documents’ copies.

Cost of postal order is paid by the client. Remittance charge amounts 1% of the sum of postal order. VAT taken extra tariff rates amounts 18%, stated by the Russian legislation.

At post clients can perform both initial and supplementary investment in UIFs and cash flow of UIF repayment.

The project on investment funds sale in post offices started in 2006. Vladimir, Voronezh and Yaroslavl regions were pilot ones and now the service is granted Russia-wide.

Note:
UIFs are implemented in Russia since 1996. They recommended as safe and convenient means of collective investment in securities.

UIF management company puts investor’s money in equities, bonds and other securities. As a large investor UIF appreciably saves on stock charges and provides for necessary investment diversification. UIFs investors can get major income compared to other forms of capital. As opposed to independent investment they save on tax expenses. Being not legal entity UIF doesn’t pay income tax, money is stick to the process within the whole period. Tax is paid only on completion date when client repays unit investment funds off ex post realized profit.