So investiert der INVL Russia ex-Government Equity Subfund Fonds: The new description of the investment strategy defines that the Subfund’s assets may be invested only in financial instruments of the companies operating in the Russian Federation and other CIS countries (including the former CIS countries), except for state-controlled companies. State control shall be deemed to mean a holding of more than 20 per cent of the shares of a company. This means that the Subfund will be unable to invest in governmental enterprises as from 30 June 2021. This amendment is aimed at ensuring that investments are made in enterprises that are not controlled by the State and are managed in a more effective and transparent manner and, therefore, are more attractive in the long-term. The new strategy will also allow to increase investments in new economy (information and financial technologies, e-trade, etc.) companies the weight and the value of which in the economy are rapidly growing.