The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.
The Superintendency of Securities (Sugeval) in Costa Rica announced that it will add to its portfolio an investment fund focused on very short term securities which are low risk and high liquidity, reported El financierocr.com. This new instrument will be approved in the first half of 2016.
Financial companies expect that sometime before March 30 regulations of these investment instruments whose law was passed last year will be published.
It is expected that in the second half of the year the first fund management companies will be operating, once the legislation being prepared by authorities for the financial market is made known in detail.
The government signed a trust agreement with Banco Atlantida to invest resources in the field of telecommunications and information technology.
With this trust an investment fund will be created for investments that will allow projects to be implemented in the area of telecommunications and information technologies.
"According to the contract, it is indicated that investments will be made in the area of telecommunications and their applications in information technology and communication, as well as facilitating access to the internet."