Investment activity of the population increases after the removal of quarantine restrictions. The June net inflows into open end mutual funds amounted to almost 15 billion rubles, exceeding the figures of April and may in 1.8 times. Private investors chose the most conservative bond funds with returns exceeding Deposit rates and a risky stock funds focused on securities of high-tech companies.In the first month of summer the activity of private investors has increased markedly. According to InvestFunds, the volume of attraction of means in mutual funds exceeded $ 14.7 billion rubles— the highest since February and 1.8 times higher than the amount obtained in “quarantine” April and may. Investment has moved to the less risky funds. So, a large part of the net inflow of almost 7.4 billion rubles accounted for mutual Funds bonds.attracted mutual funds in June 2020 godagama of the Board of Directors “VTB Capital asset Management” Vladimir Potapov notes that in June was acquitted of the restrictions related to the pandemic, and “increased the flow of customers in banks”, which are the main providers of mutual Funds. According to him, after the recent collapse of the stock market, “aggressive approach to allocation of own funds adhere to a few”. The analyst of “Gazprombank — asset Management” Ilya Kupreev adds that the rebalancing of investors ‘ funds in favor of bond funds “is associated with a desire partially to fix profit after a strong rally in the shares” and the cautious behavior of investors “fear of a second wave of coronavirus and a slower recovery of the world economy.”According to the Bank of Russia, the average maximum rate on deposits of the ten largest banks in the third week of June, renewed its historical minimum, down to 4.8% per annum. The average rate of the index of corporate bonds of the Moscow exchange is close to 6.2% per annum.As the General Director of “Raiffeisen Capital” Olga Sumina, bond funds have traditionally been an alternative to deposits, given the ratio of risk to profitability. In addition, in the current situation “from a three-year tenure with mutual Funds, you can obtain a tax credit, that Deposit is no longer relevant”. “More advanced investors know that further reducing the Central Bank rate will lead to higher bond prices and, consequently, their income will be even higher rates on deposits”,— says the asset Manager of UK “Opening” Dmitry kosmodemyansky.Investors also pay attention to the historical performance of the funds (which, of course, is not a guarantee for the future control of the company). Thus, according to InvestFunds, for the last year the yield of the bond funds was 10-20%, two to three times higher than the return on deposits. And as noted in “VTB the Capital Management of activeyou” and UK “Opening” in the number of buyers of bond funds dominated new investors.Among the leaders in attracting funds was investing in securities of high technology companies. Plays in their favor high yield over the past year it amounted to 25-40%. However, says the Director of asset management Department of “Alfa-capital” Victor Bark, historical yield is not the only factor. “Technology companies survived the crisis better than companies from other sectors. Companies such as Zoom, Netflix and Microsoft, grew during the falling markets in the first quarter, and while growth markets in the second quarter of 2020, thus showing protective properties,” he explains. According to Olga Sumina, it funds in the future “have all chances to become the best sector return for the year 2020”.According to participants of the market, investment activity will remain high in the coming months. Victor Burke notes that many Russians were forced to abandon on holiday abroad, and part of the savings invested in the securities market, including through the funds. In addition, according to him, pandemic “has caused many Russians of middle age to think about long term savings.” According to the head of sales Department of “Sberbank asset Management” Andrey Makarov, news about the second wave of coronavirus can chill investor sentiment. However, the inflows can be maintained, as it was in the beginning of the year, when investors invest in gold as well as in funds that invest in pharmaceuticals and biotechnology.Dmitry Ladygenskay the benefit of investors and managers have learned from critiscising next
