Open-end UIF growth quicker in Q2

In 2019 Q2, the net asset value (NAV) of unit investment funds (UIFs) for non-qualified investors increased by 2.2% to 774.8 billion rubles. This is shown by these funds’ financial statements published on the Bank of Russia website.

Over the quarter, the NAV share of closed-end UIFs reduced by 1.8 pp to 54.9%. At the same time, open-end UIFs focused on retail investors increased their NAV share by 1.5 pp to 43.5%.

The share of interval UIFs and exchange-traded UIFs amounted to 0.8% each. In relative terms, the highest NAV growth was demonstrated by exchange-traded UIFs — by 61.9% to 6.2 billion rubles. The number of exchange-traded UIFs increased by 2 units to total 8 UIFs, and the number of exchange-traded UIFs’ shareholders doubled.

In the period April—June 2019, NAV growth in open-end UIFs accelerated to 5.9%. The number of open-end UIFs’ shareholders increased by 2% to 591.6 thousand. During the quarter, the number of open-end UIFs grew by 2 units to total 262. Closed-end UIFs showed a downward trend: their number decreased by 3 units to 226, and the NAV share reduced by 1.1%. In contrast, the number of closed-end UIFs’ shareholders was up by 2.4%.

The total number of shareholders of UIFs for non-qualified investors increased over the quarter by 1.1%, while the number of UIFs remained the same — 506.