OREANDA-NEWS. December 06, 2010. From 1 through 14 December 2010, the next interval is open of the mixed investment Mutual Fund "Kuznetsky Most" managed by Asset Management Company of the Bank of Moscow (AMC of the Bank of Moscow).

Towards the opening of the interval, AMC of the Bank of Moscow has, for the convenience of shareholders, provided an opportunity for free exchange of shares between the company’s interval and open Mutual Funds. This operation may be performed during the intervals of interval funds.

This means that, during the current interval of the "Kuznetsky Most" Fund, as well as subsequent intervals, shareholders may exchange shares both from the "Kuznetsky Most" Fund to any open fund managed by AMC of the Bank of Moscow and the other way round (save for the Mutual Fund "Volkhonka - Securities Fund").

The same opportunity to exchange shares also exists on performance of operations with shares in the Mutual Fund "Serebryanniy Bor - Precious Metals" during the intervals of the given fund. At the same time, it is not possible to exchange shares between the "Kuznetsky Most" and "Serebryanniy Bor - Precious Metals" interval funds since their intervals do not coincide.

At the request of shareholders, in November, AMC of the Bank of Moscow abolished the markup on share purchases, so now, when purchasing shares in the Mutual Fund "Kuznetsky Most" through the Bank of Moscow, shareholders do not have to pay any commission (previously a commission of from 0 to 1.5% was charged, depending on the sum invested).

In addition, in the interests of shareholders, amendments have been introduced into the Rules of the "Kuznetsky Most" fund and the list of investment instruments has been extended. In particular, an opportunity is now available to acquire foreign securities as fund assets and to conclude repo transactions.

For the purpose of further strengthening control over operations performed and protection of the rights of investors, there has been a change of the Registrar keeping the register of shareholders in Mutual Funds of AMC of the Bank of Moscow. Previously, the functions of Registrar and Specialised Depositary were performed by a single entity, whereas now the entities fulfilling the given functions are independent of each other. The new Registrar is Registrar KPC Company. The consideration paid to the Registrar out of the fund’s assets has been reduced by 20%.

On consideration of the listed innovations, acquisition of shares in the Mutual Fund "Kuznetsky Most" is now even more attractive than before.

The increase in the value of a Mutual Fund "Kuznetsky Most" share has been as follows: — since the last interval (from 14 September through 30 November 2010) +10.10%
 — since the beginning of 2010 +20.10%
— over the last year +27.28%
— since the date of inception +275.13%

Shares in the Mutual Fund "Kuznetsky Most" may be purchased and sold at Bank of Moscow sales outlets located throughout Russia. Payment for shares may also be made (provided a purchase application has been submitted in advance) through all Bank of Moscow ATMs (more than 1800 machines throughout Russia) and via Bank of Moscow Internet Banking. Payment is in rubles.

For detailed information about the Mutual Fund "Kuznetsky Most", see the Specialised Overview relating to the fund’s current interval.