Costa Rica rings changes on investment funds

©image: Paul Falardeau

According to the financial markets regulator, Sugeval, the aim of the changes is to clarify various aspects of the existing rules, which date from 2006, on the basis of practical experience.
The changes include new rules on the certification of fund managers, the updating of prospectuses, and a broadening of the scope of real-estate funds.

Source: La República

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Costa Rica: Long-term funds subject to new rules

May 2008

Measures oblige firms to have liquid assets ready to meet obligations.

Last week the General Securities Office approved a change in articles 34, 61 and 67 of its general rules relating to administrative companies and investment funds.
The goal is to create better management of the maturity dates of assets held by the long-term open funds.

Less Investors, But More Active Ones

January 2010

In Costa Rica, investment funds grew 16% in 2009, in spite of losing almost 10% of their investors.

During the past financial crisis, the Costa Rican market turned out to be more stable than international markets, making it a relatively safer place for storing capital. Because of this, assets managed by investment funds grew to $2.48 billion.

Costa Rican Investment Fund Market 2010

December 2010

Despite the international financial crisis, assets have grown by 8% in 2010 and the number of investors increased 10% to 33.432 customer accounts.

Among other options, stock funds won over many investors reappearing as an investment option with over 200 investors. Also open Growth Funds increased 12%, Megafunds with an 11% increase and Money Markets with 12%.

Modifications for Investments Funds in Costa Rica

January 2009

The decrease in the minimum asset level in Real Estate Funds to $5m encourages the undertaking of smaller real estate development projects.

The measure adopted by the Superintendence of the Stock Market hopes to adapt the rules to the current financial and economic crisis to promote investment, especially in the construction sector.