Exchange bureau were the first private commercial institutions to keep money, issue loans, exchange foreign coins for national ones. In the Russian empire in 1769, banks dealing with notes were opened in Moscow and Saint-Petersburg as well as in other large cities, their offices to change damaged metal coins for banknotes.

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Bank-managed mutual fund

Russian International Bank offers trust assets management service:

What is a Bank-Managed Mutual Fund?

A bank-managed mutual fund is a large investment pool combining medium and large investors. Unlike deposit funds, the rate of return does not depend on the value of invested funds. Highly experienced specialists of our bank will continuously work with you to care about- and increase your return. From the moment of transfer of assets to our Bank-Managed Mutual Fund, all your monetary resources and securities are credited to a trust management account opened with Russian International Bank. This will save your assets and at that moment, Russian International Bank will be under control of the Central Bank of the Russian Federation and Federal Service for Financial Markets.

When our clients invest into Bank-Managed Mutual Funds they obtain a share participation certificate that entitls them to a share of the property in stocks. This certificate is not a security and cannot be sold in the market. However, it can be devised or reassigned to another person.

Where does the Bank-Managed Mutual Fund invest?

Objects of trust management in the Bank-Managed Mutual Fund:
monetary funds;
foreign currency;
derivative securities.

Investment declaration of Russian International Bank contains information about maximum value and property value in the Bank-Managed Mutual Fund, share of every type of property, every kind of securities (bonds, shares, promissory notes and others) included in investment portfolio of the Bank-Managed Mutual Fund; share of funds place in currency valuables; sectorial diversification of deposits (by industries issuers).

Commission to the Trustee is formed from the main fee and premium:
main fee - 1.5% per annum of the Fund net assets cost;
premium - 15% of increment value of Funds net assets cost.

In the event that the Management promoter retires from the Fund or on partial return of property from the Fund till the end of the year starting from the date of the Management Promoter joined the Fund, the Management Promoter shall pay a commission to the Trustee for each Nominal Share considered in favor of this Management Promoter in the following amount and depended on the period passed from the date when the property was transferred to the Fund till the date when the property was withdrawn from the Fund.

Term elapsed as of the date the property was transferred to the Fund

Commission (with VAT), %

Up to 90 days


91 up to 180 days


181 up to 365 days


366 days and more

not charged