close

Вход

Забыли?

вход по аккаунту

код для вставкиСкачать
The role of mutual investment funds in
the Russian stock market development
Olkhovitch Eugene
Plekhanov Russian Academy of Economics
Russian Stock Market Overview
RTS Index
900
800
700
600
500
400
300
200
100
0
16.11.1997
20.05.1999
20.11.2000
24.05.2002
1998
25.11.2003
2004
17 bil. US dollars
Market Cap
230 bil. US dollars
10 bil. US dollars
Trading Volume
101.2 bil. US dollars
Plekhanov Russian Academy of Economics
28.05.2005
Problems of the Russian Stock Market
1.
2.
3.
4.
5.
6.
7.
8.
9.
Legal base shortcomings;
Poor infrastructure;
Low transparency;
Low integration level into the global stock markets;
Insider trading;
Lack of long-term investment;
Speculative nature;
Small quantity of shares traded (both by free-float
and by number of issuers);
Limited number of participants.
Plekhanov Russian Academy of Economics
Mutual Investment Fund
Plekhanov Russian Academy of Economics
Mutual Investment Funds
Mutual investment Funds perfectly suits those people, who
have no idea about financial markets, who are not able
to make decisions or who are simply lazy.
Helen Daglas Wiliamson
Plekhanov Russian Academy of Economics
Mutual Investment Effects on the Stock Market
1.
2.
Mechanism of drawing additional monetary
resources into the economy;
Mechanism of bringing long-term investments into
the economy.
Plekhanov Russian Academy of Economics
Worldwide Total Net Assets of Mutual Funds (millions of US.
dollars, end of year)
1998
1999
2000
2001
2002
2003
9,343,272
11,391,138
11,871,061
11,654,904
11,324,131
13,957,564
6,930
6,990
7,425
3,751
1,021
1,916
Brazil
118,687
117,758
148,538
148,189
96,729
171,596
Canada
213,451
269,825
279,511
267,863
248,979
338,369
Mexico
N/A
19,468
18,488
31,723
30,759
31,953
5,525,209
6,846,339
6,964,667
6,974,951
6,390,360
7,414,084
556
1,473
1,990
1,778
3,297
4,083
Finland
5,695
10,318
12,698
12,933
16,516
29,967
France
626,154
656,132
721,973
713,378
845,147
1,148,446
Germany
190,520
237,312
238,029
213,662
209,168
276,319
Hungary
1,476
1,725
1,953
2,260
3,992
3,936
Poland
506
762
1,546
2,970
5,468
8,576
Russia
29
177
177
297
372
851
Turkey
N/A
N/A
N/A
N/A
6,002
14,164
277,551
375,199
361,008
316,702
288,887
396,523
World
Americas
Argentina
United States
Europe
Czech Republic
United Kingdom
Source: Investment Company Institute, USA
Plekhanov Russian Academy of Economics
World Number of Mutual Funds (end of year)
1998
1999
2000
2001
2002
2003
50,835
52,746
51,692
52,849
54,110
54,015
229
224
226
219
211
186
Brazil
1,601
1,760
2,097
2,452
2,755
2,805
Canada
1,130
1,328
1,627
1,831
1,956
1,887
Mexico
N/A
280
305
350
364
374
United States
7,314
7,791
8,155
8,305
8,244
8,126
Czech Republic
56
62
70
65
76
58
Finland
114
176
241
275
312
329
France
6,274
6,511
7,144
7,603
7,773
7,902
Germany
793
895
987
1,077
1,092
1,050
Hungary
66
87
86
89
90
96
Poland
38
62
77
94
107
112
Russia
28
27
37
51
57
132
Turkey
N/A
N/A
N/A
N/A
242
236
United Kingdom
1,576
1,618
1,766
1,749
1,787
1,692
World
Americas
Argentina
Europe
Source: Investment Company Institute, USA
Plekhanov Russian Academy of Economics
Thank you for attention!!!
Plekhanov Russian Academy of Economics
1/--страниц
Пожаловаться на содержимое документа