Market mutual Fund in 2019 exceeded 4 trillion roubles, the net inflow of funds was the highest for 5 years

Net asset value mutual Fund (NAV of PIF) for the 2019 rose by 32.4% (1.1 trillion roubles), to 4.48 trillion roubles. It is the largest net inflows in mutual funds over the last 5 years. The record over the same period and turned the quarterly net inflow of funds for qualified investors — 62.7 billion rubles for the fourth quarter, double the result of the third quarter of 2019. This is stated in the information-analytical comments “market Trends mutual Fund”.

In total, 2019 in mutual funds for qualified investors invested 0.9 trillion rubles (an increase of 10.5% in the fourth quarter relative to third quarter). Retail investors are increasing their investments in mutual and exchange-traded funds whose shares you can buy and redeem any day. Open portfolios and stock mutual Fund for the quarter grew by 21.7% (up to 454.7 billion rubles) and 51.6% (up 16.9 billion rubles), respectively. The growth of NAV retail mutual Fund comes on the back of lower interest rates on deposits. At the same time in closed and interval mutual funds for qualified investors, there is an outflow of funds (up to 422,6 and 6.6 billion respectively).

More than half (61%) of investments in mutual funds for qualified investors accounted for the assets of the real sector of the economy. Almost a third (31% or 285,7 bn) such funds invested in the construction industry, real estate, development and infrastructure, but the share of these investments decreased throughout the year (by 3.2 percentage points in the quarter and 6.7 p. p. per year). For the fourth quarter decreased the proportion of investments in financial companies (17.5%, 161.4 m or bn), but increased in the banks (up to 12.5%, or reach 115.3 billion) and oil companies (to 11.1%, or 102,4 billion). Funds the mutual funds for qualified investors are mainly invested in corporate bonds (at year-end accounted for 30.5 per cent), stocks and Depository receipts on shares (24.1 per cent) and real estate (23.1 per cent).

The amount of funds the mutual Fund for qualified investors in the fourth quarter grew 13.8%, to 3.58 trillion rubles, of which 98.8 per cent (3,53 trillion rubles) falls on closed-end funds. Funds of such mutual Fund are mainly represented by investments in the financial sector (55.8 percent for the quarter, the share rose 3.5 percentage points). In the portfolios of these funds continues to increase in the share of assets of financial companies (+3.2 percentage points for the quarter to 46.3%) despite the reduction of investments in the sector of construction, real estate, development and infrastructure (-3,7 percentage points to 25.6%).

Only at the end of the year the market was recorded 1531 the Fund, of which 525 mutual Fund intended for qualified investors, 1006 — for qualified. A year earlier the market was 1440 funds (554 and 886, respectively). In the fourth quarter of 2019 on the market was 74 new Fund.

17 Feb 2020