small retail investors have spurred demand for the Ukrainian stock market. The only question is whether they can revive it …
Snow Falls - broker said thoughtfully, glancing out the window. Sell! - Shouted colleagues … Last fall, it was the most relevant anecdote among fondovikov, but private investors were not amused. They were late exit from the market and fixed mass loss, although it had to be done in the spring. But analysts and investment advisers, even in the midst of crisis asserted chorus: it's time to buy securities.
Oh how many times they are groping very bottom of the stock market. Following their advice, private investors after another collapse indices continued to deposit money into their brokerage accounts and mutual funds. And those every month and just did what we were losing clients' money. Result? PFTS index fell from its peak about four times. The cost of mutual funds fell at least twice. Money in the investment company no longer carried, and investment advisers are increasingly finding themselves out of business. But last year's emotional experience of citizens as something very quickly forgotten, as soon as they saw the growth of the market.
50% growth over the past two months, returned to private investors in the stock market. Individuals willing to take risks again, buying the most liquid shares of Ukrainian companies and units of investment funds.
ÂÂ
Eyes Wide Shut
Last year, the outflow hryvnia and foreign currency funds from the banking system amounted to 100 billion UAH. Back to the banks have returned more than 10% of recovered funds, the rest are in the form of cash from the public. Some of that money has already migrated to the stock market - says the managing director of AMC Dragon Asset Management Dmitri Isupov.
But according to the Ukrainian stock exchange, in September, the share of individuals have accounted for approximately 30% of the total volume of transactions, while in April was not and 10%. And when you consider that since the beginning of the volume of shares traded on the stock exchange has increased from 6,8 million UAH. for the first month of work in April to 143 million UAH. September, the rate of participation of citizens is impressive.
Participants
other Ukrainian sites - the PFTS trading volumes which have grown even more impressive rates, having increased from February to September, four times - also explain the increase in the demand for an index of services of Internet trading and interest in it by individuals. Previously, up to 80% of the stock market is a means of non-residents, after they left this niche has gradually become filled by private investors. However, their numbers were low and the funds are not comparable. Total values for the two sites recorded until about 1600 online merchants.
ÂÂ
Trusts
Managers also not averse to grab of the money from private investors. Go three major asset management companies entered the market of collective investments with a total supply of 360 million UAH. That in the present market situation fairly large amount. Especially if you take into account the fact that the volume of open market mutual funds at the end of September stood at just 227 million UAH. And all the three fund will be open, suggesting involvement of a very impressive number of small investors.
But a few months ago after multiserial collapse of the stock market managers had a new way to assess their capabilities. If this thing goes on, the control will be nothing, and no one - sadly joked investment managers. It was believed that the market of collective investments, as well as the stock market of Ukraine, rolled a few years ago and actually died. Many even opted to leave. Since the beginning of the Ukrainian association of investment business recorded outflows of clients from public funds in the amount of 60 million UAH., Which corresponds to almost a quarter of all funds under management kuashek.
now manager of investment and pension fund management company Synergy Victor Bott believes that the volume of bond fund Kinto-Equity in the amount of 250 million UAH. is not so significant, especially when compared with the pre-crisis parameters of the market of collective investment. In AMC Raiffeisen Aval explain the need to specify the amount of emission indeterminate public funds as economic nihilism. In the world of the index does not exist. Also in the regulations is not registered additional issue of the open method of ICI. In this regard, we have identified a significant amount of emissions, allowing the medium term do not worry about the need for additional placement fund - explains CEO Vadim Mosijchuk.
Most market participants also believe that, saying such a volume control was taken from the stock, expecting long-term post-crisis' perspective, when the market return, foreign investors. Today, domestic resources for the restoration of the stock market is not enough. It all depends on the return of residents to the Ukrainian market and substantial demand for paper from them. It's possible, but not exclusively in the near future. At the moment, any signals active interest in the domestic market with their part no, - says the chairman of the board of UkrSib Asset Management Maxim Kuprin.
Yet the demand for new funds remains high. Announcing the establishment of a fund in March, in July fund Quinto-Equity has reached the minimum required amount and was recognized as valid. Moreover, managers have made a bet on the buckling significantly in price the most liquid shares of domestic companies, which invested up to 90% of money fund. The idea of creating a new fund appeared in the early years, when the stock market fell and was below economic levels. Strategy Fund due to the fact that the market recovery in the first place increasing liquid assets. Thus, from the beginning of the year's most traded stock index PFTS has grown on 90%. In the future we intend to invest in securities of the second and third tier. Some of them have the potential to increase value by 5-10 times, - says Mr. Bott.
The index paper plans to invest and control the open stock index shares Argentum. Orientation fund exclusively on index securities that are the most liquid instruments, to help overcome the existing mistrust of investors who managed to get burnt in the past year, when the market is collapsing and many could not withdraw their deposits from the funds because the companies could not sell the illiquid shares of portfolios , - noted the managing director of Asset Dragon Asset Management Andrey Zolotukhin.
Unlike our colleagues, Raiffeisen Aval, decided to take no income, and the reliability and security of investments. Presented in September, the public fund Raiffeisen money market offers investors a portfolio of 50% consisting of state and municipal investments, and the remaining 50% of bank deposits.
ÂÂ
first in the race
The involvement of so many individuals in the stock market and growing too fast quotes Ukrainian shares should all be happy with caution, as this has its pluses and minuses. On the one hand, online trading has increased domestic investors (natural persons) and provided an opportunity to obtain additional financial resources, a tremendous increase in liquidity. On the other hand, the outcome can be sad. The money of small investors differ, above all, a speculative component. Investors actively invest in the Ukrainian market shares just because during the fall it drops very quickly, and in the period of growth can grow at a faster pace. In addition, the market gets a lot of redundant facilities, warming up the stock market. Yes, and the company strive to unleash quotes, and stock indexes rise, the money comes. The current trend in these indicators of the economy in general and businesses in particular are not more real than the rabbit through the mirror. Correction bound to happen when a couple of large companies, traders decided that its time has come, - says Director of Development PFTS Igor Seletsky. Therefore, in the case of a small correction in the stock market these funds as quickly would be to leave the market, as it was in the end of 2008, even recording the loss. Without returning to the market of large investment funds to speak about sustainable market recovery is not necessary yet.
ÂÂ
Natalia Terekhova
TGC-14 in the period 2010 - 2015, plans to send to the investment program of about 4 billion rubles a year
Analytical review of the Forex Market for October 19
Economists are predicting a new crisis in Russia
Ukrainian Americans are ready to rescue troubled banks
Turkey allowed exploration work on the project South Stream
Kommersant: Donetsk Court refused currency loans
European stocks rise on Monday, Stoxx 600 is close to the maximum from October 2008
The Ukrainian stock market went into the Comma delimited, concluded Monday the negative dynamics of the indices
Forecasts of analysts: Soaring oil prices and positive economic situation of world stock markets will boost Russian indices
Stock market: new blood
small retail investors have spurred demand for the Ukrainian stock market. The only question is whether they can revive it …
Snow Falls - broker said thoughtfully, glancing out the window. Sell! - Shouted colleagues … Last fall, it was the most relevant anecdote among fondovikov, but private investors were not amused. They were late exit from the market and fixed mass loss, although it had to be done in the spring. But analysts and investment advisers, even in the midst of crisis asserted chorus: it's time to buy securities.
Oh how many times they are groping very bottom of the stock market. Following their advice, private investors after another collapse indices continued to deposit money into their brokerage accounts and mutual funds. And those every month and just did what we were losing clients' money. Result? PFTS index fell from its peak about four times. The cost of mutual funds fell at least twice. Money in the investment company no longer carried, and investment advisers are increasingly finding themselves out of business. But last year's emotional experience of citizens as something very quickly forgotten, as soon as they saw the growth of the market.
50% growth over the past two months, returned to private investors in the stock market. Individuals willing to take risks again, buying the most liquid shares of Ukrainian companies and units of investment funds.
ÂÂ
Eyes Wide Shut
Last year, the outflow hryvnia and foreign currency funds from the banking system amounted to 100 billion UAH. Back to the banks have returned more than 10% of recovered funds, the rest are in the form of cash from the public. Some of that money has already migrated to the stock market - says the managing director of AMC Dragon Asset Management Dmitri Isupov.
But according to the Ukrainian stock exchange, in September, the share of individuals have accounted for approximately 30% of the total volume of transactions, while in April was not and 10%. And when you consider that since the beginning of the volume of shares traded on the stock exchange has increased from 6,8 million UAH. for the first month of work in April to 143 million UAH. September, the rate of participation of citizens is impressive.
Participants
other Ukrainian sites - the PFTS trading volumes which have grown even more impressive rates, having increased from February to September, four times - also explain the increase in the demand for an index of services of Internet trading and interest in it by individuals. Previously, up to 80% of the stock market is a means of non-residents, after they left this niche has gradually become filled by private investors. However, their numbers were low and the funds are not comparable. Total values for the two sites recorded until about 1600 online merchants.
ÂÂ
Trusts
Managers also not averse to grab of the money from private investors. Go three major asset management companies entered the market of collective investments with a total supply of 360 million UAH. That in the present market situation fairly large amount. Especially if you take into account the fact that the volume of open market mutual funds at the end of September stood at just 227 million UAH. And all the three fund will be open, suggesting involvement of a very impressive number of small investors.
But a few months ago after multiserial collapse of the stock market managers had a new way to assess their capabilities. If this thing goes on, the control will be nothing, and no one - sadly joked investment managers. It was believed that the market of collective investments, as well as the stock market of Ukraine, rolled a few years ago and actually died. Many even opted to leave. Since the beginning of the Ukrainian association of investment business recorded outflows of clients from public funds in the amount of 60 million UAH., Which corresponds to almost a quarter of all funds under management kuashek.
now manager of investment and pension fund management company Synergy Victor Bott believes that the volume of bond fund Kinto-Equity in the amount of 250 million UAH. is not so significant, especially when compared with the pre-crisis parameters of the market of collective investment. In AMC Raiffeisen Aval explain the need to specify the amount of emission indeterminate public funds as economic nihilism. In the world of the index does not exist. Also in the regulations is not registered additional issue of the open method of ICI. In this regard, we have identified a significant amount of emissions, allowing the medium term do not worry about the need for additional placement fund - explains CEO Vadim Mosijchuk.
Most market participants also believe that, saying such a volume control was taken from the stock, expecting long-term post-crisis' perspective, when the market return, foreign investors. Today, domestic resources for the restoration of the stock market is not enough. It all depends on the return of residents to the Ukrainian market and substantial demand for paper from them. It's possible, but not exclusively in the near future. At the moment, any signals active interest in the domestic market with their part no, - says the chairman of the board of UkrSib Asset Management Maxim Kuprin.
Yet the demand for new funds remains high. Announcing the establishment of a fund in March, in July fund Quinto-Equity has reached the minimum required amount and was recognized as valid. Moreover, managers have made a bet on the buckling significantly in price the most liquid shares of domestic companies, which invested up to 90% of money fund. The idea of creating a new fund appeared in the early years, when the stock market fell and was below economic levels. Strategy Fund due to the fact that the market recovery in the first place increasing liquid assets. Thus, from the beginning of the year's most traded stock index PFTS has grown on 90%. In the future we intend to invest in securities of the second and third tier. Some of them have the potential to increase value by 5-10 times, - says Mr. Bott.
The index paper plans to invest and control the open stock index shares Argentum. Orientation fund exclusively on index securities that are the most liquid instruments, to help overcome the existing mistrust of investors who managed to get burnt in the past year, when the market is collapsing and many could not withdraw their deposits from the funds because the companies could not sell the illiquid shares of portfolios , - noted the managing director of Asset Dragon Asset Management Andrey Zolotukhin.
Unlike our colleagues, Raiffeisen Aval, decided to take no income, and the reliability and security of investments. Presented in September, the public fund Raiffeisen money market offers investors a portfolio of 50% consisting of state and municipal investments, and the remaining 50% of bank deposits.
ÂÂ
first in the race
The involvement of so many individuals in the stock market and growing too fast quotes Ukrainian shares should all be happy with caution, as this has its pluses and minuses. On the one hand, online trading has increased domestic investors (natural persons) and provided an opportunity to obtain additional financial resources, a tremendous increase in liquidity. On the other hand, the outcome can be sad. The money of small investors differ, above all, a speculative component. Investors actively invest in the Ukrainian market shares just because during the fall it drops very quickly, and in the period of growth can grow at a faster pace. In addition, the market gets a lot of redundant facilities, warming up the stock market. Yes, and the company strive to unleash quotes, and stock indexes rise, the money comes. The current trend in these indicators of the economy in general and businesses in particular are not more real than the rabbit through the mirror. Correction bound to happen when a couple of large companies, traders decided that its time has come, - says Director of Development PFTS Igor Seletsky. Therefore, in the case of a small correction in the stock market these funds as quickly would be to leave the market, as it was in the end of 2008, even recording the loss. Without returning to the market of large investment funds to speak about sustainable market recovery is not necessary yet.
ÂÂ
Natalia Terekhova
TGC-14 in the period 2010 - 2015, plans to send to the investment program of about 4 billion rubles a year
Analytical review of the Forex Market for October 19
Economists are predicting a new crisis in Russia
Ukrainian Americans are ready to rescue troubled banks
Turkey allowed exploration work on the project South Stream
Kommersant: Donetsk Court refused currency loans
European stocks rise on Monday, Stoxx 600 is close to the maximum from October 2008
The Ukrainian stock market went into the Comma delimited, concluded Monday the negative dynamics of the indices
Forecasts of analysts: Soaring oil prices and positive economic situation of world stock markets will boost Russian indices