The collective investment fund managing society must act in a transparent manner ensuring the provision of truthful, impartial, timely, complete, accurate, pertinent and useful information, through the following mechanisms (Article 3.1.1.9.1. Decree 2555 of 2010).

Regulation (Article 3.1.1.9.5. Decree 2555 of 2010)

The regulation must be written in Spanish, with clear language, without abusive or ambiguous clauses and must include detailed information on:

• General data of the collective investment fund managing society and the administered funds.
• Investment policies and risk profile. 
• Monitoring and control mechanisms.
• Procedures for the constitution and redemption of shares.
• Expenses and commissions, including calculation methodologies.
• Rights and obligations of the parties involved.
• Information about the third-party manager and custodian, if applicable.
• Information disclosure mechanisms.
• Grounds and procedures for the liquidation of the fund.

The regulation must be available to investors and any amendments must be approved by the board of directors and submitted to the SFC prior to its entry into force. 

Modifications that adversely affect the economic rights of investors require their approval and must be communicated in a clear and timely manner (Article 3.1.1.9.6. Decree 2555 of 2010).

Prospectus (Article 3.1.1.9.7. Decree 2555 of 2010)

The collective investment fund managing society shall implement the prospectus for the marketing of the funds, which shall contain general information about the fund, the investment policy, economic details (including remuneration and expenses), and means of reporting. In addition, the custodian and the external manager must be identified if applicable.

It must be provided to investors before their linkage, with proof of receipt and acceptance. 

Sheet (Article 3.1.1.9.8. Decree 2555 of 2010)

It is a standardized document with basic information about each fund. 

Investor Account Statement (Article 3.1.1.9.9. Decree 2555 of 2010)

It must provide a detailed summary of each investor's account movement and be accessible through the collective investment fund managing society's website. 

Accountability Report (Article 3.1.1.9.10. Decree 2555 of 2010)

It contains information on the fund's management, including the balance sheet and income statement, at least every six months. The report must be sent within a maximum period of fifteen days after the cut-off, as stipulated in the regulations.