FSA registered closed mutual fund of risky investments "Balanced Fund" (Kazakhstan)

/IRBIS, Natalya Kouznetsova, April 27, 05/ - Agency of the Republic of Kazakhstan on financial market and financial organizations regulation and supervision (FSA) on April 15, 2005 registered the issue of stakes in closed mutual fund of risky investments "Balanced Fund". As Kazkommerts Invest JSC (Almaty), a fund manager, told IRBIS, minimal amount to purchase a stake equals KZT1.0 m. Fund manger provides an put option for investors under which latter may demand a repayment of the stake not less than once in a year. According to representatives of Kazkommerts Invest JSC the mutual fund of risky investments Balanced Fund will be primarily investing in debt securities (bonds, promissory notes), equities (shares, stakes in funds etc), as well as realty. First mutual funds has been introduced in Kazakhstan recently and is type of collective investing under which investors' funds are invested in securities with the aim of earning appropriate returns. [2005-04-27]