FSA approved the amended fund rules of EfTEN United Property Fund
On 23.01.2023, the Financial Supervision Authority approved amendments to the fund rules of EfTEN United Property Fund.
The amendments in the fund rules is primarily due to the need to exclude provisions that are no longer relevant after the listing of the fund's units on the Nasdaq Tallinn stock exchange on 31.05.2022. The frequency of issuing fund units has been materially changed. After listing on the stock exchange, investors can trade EfTEN United Property Fund units on a daily basis. As a result, monthly issuance of units is no longer necessary to provide a regular investment opportunity.
EfTEN Capital also requested to include the option of a buy-back program of EfTEN United Property Fund units in fund rules. In the opinion of the Financial Supervision Authority, the buy-back program cannot be applied to contractual funds and their units listed on the stock exchange. Therefore, the buy-back program provisions were not included in the fund rules.
The updated fund rules of EfTEN United Property Fund will come into force one month after their publication, on 25.02.2023.
The updated fund rules of EfTEN United Property Fund can be found on the fund's website: https://eftenunitedpropertyfund.ee/en/reports-documents/
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