Costa Rica: More Options for Short-Term Investment

The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.

Tuesday, March 22, 2016

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.

See also: "Change in Costa Rican Market "

"... The Sugeval is considering the possibility of liquidation (accreditation of money) of this new portfolio not being the next business day (T + 1) in which the transaction takes place, but that the timeframe be extended to three business days (T + 3). In addition, the average term for this instrument will be 180 days, double the period required for investment in money market funds (90 days) ".

"... 'Investors, whether physical or legal, who do not require immediate liquidity and prefer not to utlise this option in order to get more yield and term to maturity, will be seeking out this fund. It will also be a complementary portfolio that will allow diversification of investment funds," said Vladimir Sequeira, manager of Acobo Vista".

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