Offering units intended for qualified investors: Bank of Russia’s explanations
The units of unit investment funds (UIFs) that are intended solely for qualified investors must not be offered to non-qualified investors. This is stated in the Bank of Russia’s information letter.
If the information about such a fund and its units is aimed at attracting or maintaining interest in them, it must not be disseminated among non-qualified investors. It includes, for example, the name of the fund, its yield, the procedure for buying or selling its units, or the benefits of such a purchase.
The restrictions apply to all methods, forms, and channels of information dissemination, including calls, websites, links, and QR codes.
The regulator recommends following the same approach when offering other securities and derivatives intended for qualified investors. This will lower the risk of investors becoming interested in financial instruments that do not match their experience and level of knowledge.