Argentina Securities Commission mandates monthly single fact sheets for open-end mutual funds and sets 30 to 60 business day implementation window

Argentina’s Securities Commission (CNV) approved rules requiring a standardised “Ficha Única” for each open-end mutual fund (Fondo Común de Inversión Abierto, FCIA), following a public consultation launched under RG No. 1106. The monthly document must be published on the relevant management company’s website and will not apply to funds aimed exclusively at qualified investors. The fact sheet must reflect the fund’s current position, be written in non-technical language for retail investors, and be structured to support comparison across funds in the same category. Minimum disclosures include the FCIA’s objective and investment policy, investor profile, risk indicators, fee and expense structure, portfolio composition, and key fund information such as CNV registration number, launch date, governance bodies, risk rating, benchmark, net assets, currency, minimum subscription amount, redemption payment timeline, classification and investment horizon; it must also include a public link to the applicable tax regime and, for money market funds, a link to the CAFCI online fund comparator. Management companies must implement the Ficha Única within 30 business days for money market funds and within 60 business days for all other funds, counted from the regulation’s entry into force.