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. Last Updated: 07/27/2016

Second Fund Cleared

MOSCOW () -- The Federal Securities Commission, Russia's securities market regulator, announced Wednesday that it had approved the prospectus of a second domestic mutual fund, clearing the way for its launch.

The Pioneer First fund, organized as a joint effort between U.S. fund manager Pioneer and Russia's First Voucher, will be ready to start marketing within a month, according to Tim Frost, general director of Pioneer First's management company.