Fifth week in a row, international investors reduce investments in funds focused on Russia, taking this time to almost $290 million. the Situation was saved by domestic private investors through brokerage accounts and mutual funds invested in Russian stocks and a half times more. As a result, Russian stock indexes back to their highs from the end of February.International investors continued to withdraw funds from the Russian stock market. According to “Kommersant”, based on the report of Bank of America (account for data Emerging Portfolio Fund Research, EPFR), for the week ending August 5, clients withdrew from Russian funds of $65 million Is one and a half times higher than in the previous week ($41 million). For five weeks, foreign investors withdrew from these funds is almost $290 million, According to EPFR, last week, the funds focused on emerging markets, lost more than $2.7 billion, almost three times more than the previous week. The main reason of such behavior of investors are fears of a second wave of coronavirus. “While global statistics indicate continuing growth in the number of cases of infection, and foci of infestation shifted from the United States and Latin America to India and South Africa. This fact reduces the tolerance of global investors to emerging markets, which, moreover, by the beginning of August almost completely erased losses incurred at the end of the first quarter on the first wave of a pandemic,” notes managing investment portfolios Friedrich Wilhelm Raiffeisen Vladimir Vedeneyev.Despite the ongoing withdrawal of investors, the Russian stock indices were able last week to upgrade to multi-month highs. On Wednesday, the rouble index of the Moscow exchange for the first time since the end of February was able to rise above the level of 3,000 points (see “Kommersant” on August 6). Even with the subsequent correction, the index rose for the week by 2.1% to the level of 2972,35 points. For five weeks, the index rose by 6.1%. Currency, the RTS index came close on the week to level of 1300 points, but on Friday closed at 1271,43 points, adding 3% for the week.According to NAUFOR, in the first half of the brokerage account and in trust citizens brought to respectively 1.5 trillion 225 billion rubles (see “Kommersant” on August 6). In July, the inflow of investments in comparison with the average value of the first half decreased, but still higher than last year. According to “Kommersant”, based on a survey of major brokers, in July, customers of brokers and management companies can invest in the shares of about 32 billion rubles ($450 million). According to the Director for brokerage business, “BCS” Oleg Chikhladze, no domestic investors indices would be much lower and the market liquidity would be low. “The nature of the Russian market has changed significantly with the advent of mass retail investor. Most resistance to change in the direction of the flow��in capital foreign funds — one from his current hell,”— says CEO of “VTB Capital Investments” Vladimir Potapov.In the foreseeable future, the inflow of private investors will continue, according to market participants. However, the means of “traders” will not save in the case of mass flight of foreign capital, as it was in March of this year, when the month clients of foreign funds withdrew from the Russian market for almost $1.6 billion “to Replace a mass exit of aliens, if such happens, the Russian retail investors can not afford”,— said the head of brokerage products is the “OTKRITIE Broker” Denis Kasymov.Vitaly Gaydayev
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