The CEO of Alpha Capital Irina Krybushiva, the CEO of VIM Investments Vladimir Kirillov and the CEO of the management company Parvia, Andrey Bershadsky, sent a warning to the Minister of Finance Anton Siluanov: a new tax on the income of mutual funds threatens the sale of government bonds. The Ministry of Finance intends to collect taxes from funds that simultaneously buy its bonds. The government presented Bill No. 617-9 on September 30, 2026. Closed-end funds and qualifying investors are proposed to be taxed at 15% on dividends, interest, royalties and lease payments received. Now such earnings are not taxed at the mutual fund level, and the tax is imposed on the shareholder upon receipt of the income. According to the Ministry of Finance, a long deferral helps to avoid taxes. The expected collection from both types of funds is about 100 billion rubles per year in the years 2027-2029. After receiving 100 rubles from the coupon on the bond, the fund can invest the entire 100 again. With the proposed tax, 15 rubles will go to the budget immediately, and 85 will be left to work for the shareholder. The project provides for the offsetting of the capital tax with subsequent taxation of the investor. This reduces the risk of double payments, but 15 rubles lost today will no longer bring a moderate income. In another appeal to Siluanov, dated October 15, 7 representatives of management and finance companies estimated the possible sales of OFZ at 170 billion rubles at most. According to the data they provided, as of July 31, 166 mutual funds with profits with assets of 604.1 billion rubles were operating in Russia. Of these, 153 funds for qualified investors had assets worth 543 billion. These funds, according to the authors of the letter, had government bonds worth about 168 billion dollars. 170 billion was the full possible volume, and not a decision to sell. You can usually redeem units of an interval fund during specially opened windows, which usually last two weeks or a month.

The CEO of Alpha Capital Irina Krybushiva, the CEO of VIM Investments Vladimir Kirillov and the CEO of the management company Parvia, Andrey Bershadsky, sent a warning to the Minister of Finance Anton Siluanov: a new tax on the income of mutual funds threatens the sale of government bonds. The Ministry of Finance intends to collect taxes from funds that simultaneously buy its bonds. The government presented Bill No. 617-9 on September 30, 2026. Closed-end funds and qualifying investors are proposed to be taxed at 15% on dividends, interest, royalties and lease payments received. Now such earnings are not taxed at the mutual fund level, and the tax is imposed on the shareholder upon receipt of the income. According to the Ministry of Finance, a long deferral helps to avoid taxes. The expected collection from both types of funds is about 100 billion rubles per year in the years 2027-2029. After receiving 100 rubles from the coupon on the bond, the fund can invest the entire 100 again. With the proposed tax, 15 rubles will go to the budget immediately, and 85 will be left to work for the shareholder. The project provides for the offsetting of the capital tax with subsequent taxation of the investor. This reduces the risk of double payments, but 15 rubles lost today will no longer bring a moderate income. In another appeal to Siluanov, dated October 15, 7 representatives of management and finance companies estimated the possible sales of OFZ at 170 billion rubles at most. According to the data they provided, as of July 31, 166 mutual funds with profits with assets of 604.1 billion rubles were operating in Russia. Of these, 153 funds for qualified investors had assets worth 543 billion. These funds, according to the authors of the letter, had government bonds worth about 168 billion dollars. 170 billion was the full possible volume, and not a decision to sell. You can usually redeem units of an interval fund during specially opened windows, which usually last two weeks or a month.