Today mutual funds are one of the most popular methods of attachment. Their main benefit is that control is exercised by the company of professionals that saves investors from need of a deep study of investment and as much as possible reduces risks. Besides, investment is performed to different spheres that allows to reduce risks.
of Feature of accounting of mutual fund Accounting treatment is regulated by the Federal law (further - Law 156-FZ), the Resolution (further - Resolution 04-5/ps).
According to Law 156-FZ of function on cash management of shareholders, their storage and monitoring on execution of all obligations to investors are partitioned.
Such approach to accounting of mutual funds allows to ensure safety of investors and to prevent plunder of money and carrying out fraudulent diagrams. The state strictly controls the activities connected to Mutual funds that provides their reliability.
participate In control directly four organizations:• property management is exercised by UK;
• accounting of securities – depositary;
• guiding of the register of shareholders – the logger;
• validation of guiding of accounting and reliability of the provided data – the auditor.
According to Article 47 guiding of the register has the right to perform specialized depositary.
To auditors are established special requirements:
• they shall not be child or dependent society in relation to other participants of control of mutual fund;
• they cannot be shareholders in this fund.
audit where all accounting (financial) records, composition and structure of assets, calculations of SChA and the price of a share, correctness of storage of property of fund and all reporting documentation are checked is Annually booked.
of the Software to the law assets of mutual fund shall be separated from assets of UK and property of shareholders therefore they are stored on the separate account which is opened in bank by managing company.
the Basic rules of accounting of In Resolution 04-5/ps are described the main requirements in control of Mutual funds. UK permanently performs different operations with money of shareholders, it shall fix their everything in the special log-book, and for each fund there shall be a separate log. In it the following data are reflected: transaction number, date of its registration, carrying out and approval by depositary. All transactions shall be specified, otherwise they will be read invalid, and UK will not be able to carry out them.
Besides, daily UK is obliged to prepare the list of all property entering into mutual fund. It carries archive of the documents connected to computation of SChA and cost of a share, etc. The company is obliged to store data on payments to depositary, a face which maintains a register of shareholders, to the auditor and the appraiser.
the Specialized depositary controls activities of the company exercising trust management and tracks observance of all rules. Any operation performed by UK shall be confirmed of Depositary responds with the property in case of violation of the rules of operation of mutual fund, and in case of any violations. In particular, in case the operations violating the investment declaration of fund are performed.
Specialized depositary daily calculates the cost of shares and SChA. Also he can take the responsibility on guiding of the register of owners of shares.
of the Price of shares and SChA are daily specified on the websites of managing companies and also different information portals.
Tough delegation and careful monitoring of operation of mutual funds allows to ensure the greatest possible safety of shareholders and to protect their interests. For this reason the mutual funds are read by reliable and attractive option of attachment of money in the investment plan.