Inflow of funds into brokerage accounts remains high
In 2025 Q1, retail investors’ activity in the securities market increased – this was associated with lower deposit rates and geopolitical news. Over the said period, investors deposited ₽471 billion in their brokerage accounts, which is less than in the previous quarter but two times higher year on year.
Retail investors’ total assets remained at the level of ₽10.6 trillion. The inflow of funds was offset by the negative foreign currency revaluation due to the ruble appreciation.
Expecting monetary policy to be eased, investors opted for bonds to lock in high yields. The proportion of federal government bonds and non-financial companies’ corporate bonds in the structure of assets expanded, with these securities mostly purchased in the course of offerings. The ruble strengthening also pushed up the demand for exporters’ US dollar- or euro-linked bonds settled in rubles.
More details are available in the Review of Key Indicators of Brokers for 2025 Q1.