Mutual investors couldn’t wait - Russia


Instability on world stock markets and poor results on the Russian stock market dampened private investors’ interest in mutual funds.

Kommersant estimates that the net outflow of funds from open mutual funds in July amounted to 1.7 billion rubles ($66.5 million) – one of the worst results in the last two years. Experts say the trend may continue in August. The greatest outflow from mutual funds occurred in April, totaling more than 1.9 billion rubles. At that time, the influence of the withdrawal by institutional investors of 2.5 billion rubles ($97.8 million) from the LUKOIL First Fund, managed by Uralsib, was felt. In July, the situation was different because private investors were withdrawing funds. Stock funds fared worst, with 1.79 billion rubles taken out. Mixed funds lost 450 million rubles. Only a part of those investors moved their money into more conservative funds. Securities funds gained 600 million rubles ($24 million). The rest remained in cash.

The impressive results from mutual funds in previous years were not seen in the H1 of this year, when income from mutual stock funds was -0.7%. In addition, the destabilization of world stock market caused by the mortgage crediting crisis in the United States also spooked Russian mutual fund investors, who expected to see its effects on the Russian stock market. Analysts expect investors to take a summer vacation and return only in the autumn, when alarm over American events will have passed and mutual funds are likely to attain an income level of 15-20%, which will be of more interest. (


Financial Transformation: Now or Never  Analysis

Financial Transformation: Now or Never 

Gov't Extends Deposit Rate Cap Till Year-end Government

Gov't Extends Deposit Rate Cap Till Year-end

Media Markt Sanctioned for False Advertising Retail

Media Markt Sanctioned for False Advertising

'Creating CEElicon' Valley in Focus of HVCA Investment Confe... Conferences

'Creating CEElicon' Valley in Focus of HVCA Investment Confe...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.