Retail investors continued to increase investments in mutual funds in the first quarter of
The volume of portfolios of mutual funds (SIF) for qualified investors in the first quarter rose 1.7% to 916.5 billion rubles, said in the next issue of the analytical material “market Trends mutual Fund”. The aggregate portfolio of the mutual Fund at the same reduced for the quarter by 6.5% to 4,184 trillion roubles due to a decline in the value of assets of funds for qualified investors.
Despite the decline in the profitability of most retail funds in the first quarter against the backdrop of turbulent markets, the interest in them continues to grow due to lower interest rates on deposits and the development of online distribution channels. The net asset value of mutual funds rose 4%, to 473,1 billion, and stock — by 37,0%, to 23.2 billion rubles.
Weighted average yield (change in the unit value for the quarter) open-end funds amounted to -3,9%, including yield fell 0.7% showed the most popular among retail investors, funds of Russian bonds. High profitability in the first quarter (14,3%) showed open-ended mutual Fund focused on foreign bonds, primarily due to the growth rate of foreign currency, and most of all decreased the yield of funds of Russian shares (-19,3%). The Fund focused on foreign Fund units (ETF), a substantial 26% increase in the number of issued shares, mainly due to the funds investing in ETF on gold and show the most attractive returns in the first quarter. However, these funds are not the most common.
In the structure of investment funds for qualified investors significantly decreased the value of shares and Depositary receipts for shares by 10.7 per cent to 198.3 billion rubles, and significantly increased the volume of investments in government securities — 31.5%, to 68.2 billion rubles. These changes are associated with the revaluation of stocks of a pandemic, the reduction of the key rate and the increasing demand for conservative tools in a period of volatility.
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