Share of Investment Fund

a non-emission security with no par value per share that guarantees its owner the right of holding a share of the assets (implied to be equal for each share) that make up the fund’s property, based on the transfer to Investment Fund of a sum of money equal to the estimated value of a share (so called fair price) at a given moment. In other words, a share certifies the owner's right to demand repayment from the fund’s provider proportionate to the investor’s share in the assets that make up the property of the fund. The number of shares of Open-End, Exchange-Traded and Interval Investment Fund is not limited, the number of shares (and the possibility of changing it by selling or redemption) of Closed-End Investment Fund is determined by the rules of fund. The value (fair price) of a share at the time of repayment is not guaranteed by provider or state, and is determined by the change in value of the net assets that make up the property in collective ownership of the fund's shareholders.