UIFs for non-qualified investors: Q1 performance

In the first quarter, the net asset value (NAV) of unit investment funds (UIFs) for non-qualified investors increased by 0.4% to 758.3 billion rubles. These data come from the funds’ financial statements, posted on the regulator's website.

The bulk of UIF assets for non-qualified investors is composed of closed-end UIFs (56.7% of the total NAV) and open-end UIFs (41.9%). Over the quarter, the portion of exchange-traded UIFs grew from 0.1% to 0.5%.

In early 2019, there were two exchange-traded UIFs  in the market, and over the first quarter their number grew by four. The total value of exchange-traded UIFs was 3.8 billion rubles.

In Q1, the NAV of open-end and exchange-traded UIFs, which are mainly focused on retail customers, grew by 3.0 billion rubles (+1%) and 2.7 billion rubles (by a factor of 3.7) respectively. The NAV of closed-end and interval UIFs in turn reduced by 3.9 billion rubles (-0.7%) and 0.2 billion rubles (-2.9%) respectively.

At the same time, despite the drop in the NAV of closed-end and interval UIFs by the end of the first quarter, they posted positive returns, because the drop in NAV was caused by the termination of several UIFs (over Q1, 20 UIFs were closed, and 7 UIFs were opened).

The number of UIF shareholders increased by 12.9 thousand, as the number of open-end UIF investors grew by 9 thousand, to 579.9 thousand, and the number of shareholders of exchange-traded UIFs grew by 4.9 thousand, to 8.1 thousand.

By the end of Q1, the total number of funds for non-qualified investors was 506, including 229 closed-end UIFs, 260 open-end UIFs, 11 interval UIFs, and 6 exchange-traded UIFs.