Assets under management total almost ₽21 trillion: 2023 results
The total assets managed by management companies increased by 40.7% as of the end of 2023. The increase was mainly associated with a record inflow of funds into unit investment funds (UIFs) and their positive returns.
In 2023 Q4 alone, assets under management of UIFs grew by ₽1.7 trillion and hit the historic high mainly owing to investment in closed-end UIFs, the participants of which were wealthy investors.
The number of unit holders grew by one million, as new non-qualified investors joined closed-end and exchange-traded UIFs. Consequently, 10.9 million people became retail investors. This was mainly due to the cancellation of the minimum amount of initial investment in closed-end real-estate funds. Now, any amount can be invested in these funds. Earlier, the minimum investment threshold was ₽100,000.
2023 Q4 also saw more investment in money market exchange-traded funds. Their strategies imply short-term placement of customer funds at an interest rate that is close to the Bank of Russia key rate.
More details are in the Review of Key Indicators of Management Companies for 2023 Q4.