Investment Fund Managers are companies (organized as "Sociedades Anonimas" in Uruguay) whose sole purpose is investment fund management, under Act No. 16.774. This sole purpose was extended by Act No. 17.703, allowing these companies to also act as Financial Trustees.

 
An investment fund is a supply of capital belonging to numerous investors, individuals or legal entities, that is used to collectively purchase securities while each investor retains ownership and control of his or her own shares.

 
These entities require the Central Bank of Uruguay's authorization to operate for reasons of legality. See requirements for authorization (Art. 70 et seq RNMV). 
 

In these cases, supervision is primarily aimed at investor protection, based on the systematic and regular implementation of different supervisory mechanisms, which seek to promote entities to manage their risks in a professional way (such as the risk of being used for money laundering or terrorist financing), to prepare financial reports in a timely and consistent manner, to operate with caution and  maintain adequate compliance with regulations. Through these procedures, it is possible to have early warnings of problems and thus company managers can take appropriate measures to solve them in a timely manner. 

  
The role of protecting financial users is also performed by responding to inquiries and denouncements.

 
See List of Investment Fund Managers authorized to operate in the Uruguayan financial system.