Value of property of Energy Fund managed by Eurogreen Management Company falls short of minimum value defined by state rules for unit investments trusts formation

On August 18, 2006, Federal Financial Markets Service of Russia released the notification of closing down Energy Fund closed unit investment trust managed by Eurogreen Management Company (part of Eurogreen Investments and Financial Company). The PR-department of Federal Financial Markets Service reported that this was effected by the fact that before the end of the trust formation, the value of its property fell short of the minimum value defined by the state rules for unit investments trusts formation. Due to the resources (property) inadequacy, the trust had to be reformed. This was reported to UrBC representative by the spokesperson for Federal Financial Markets Service.

In other words, the trust proved unable to accumulate investments sufficient to start its activities.

Among the discontinued funds, there are Energy Fund closed unit investment trust managed by Eurogreen Management Company and NOVA-Building Investments closed unit investment trust managed by NOVA Management Company CJSC. This was reported by PR-department of Federal Financial Markets Service of Russia.


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