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Collective Investments and Infrastructure Research by Expert RA
Title
Summary
Collective investments and asset trust management market, 2008
The asset trust management market seems to have suffered most from the
financial crisis, since management companies' success is directly proportional
to the stock market achievements; amount of funds at the market is dependent on
economic growth and income of the population in general. Therefore, reviewing
the market in 2008 we expected to get confirmation to the pessimistic moods at
the market and in mass media.
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Audit-consulting group "Russian Audit", 2008 ranking
Earnings of auditors and consultants were halved in the first crisis
months. To compensate for dynamic losses you need to make your business more
efficient.
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Collective investments and asset trust management market within 9 months of 2008
According to Expert RA, by the end of the third quarter of 2008 the
market of asset trust management lost 5% versus the first half of the year and
amounted to 1.75 trln rubles. The result seems to be excellent against the drop
of RTS index for the same period by 46%. The market was supported by corporate
segments, namely by asset management pension reserves and individual management
reserves - as a result, decreased assets in more aggressive market segments
were smoothed.
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Collective investment and asset trust management market, the first half of 2008
The asset trust management market amounted to 1.8 trln rubles by the end
of the first half of 2008 and decreased by 5% versus the first quarter. The
market failed to reach 2 trln rubles and even shrank in monetary value for the
first time since Expert RA started to monitor its activities. Still, despite
deceleration in the first half of 2008 we expect the market to catch up in the
second half of the year.
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Collective investment and asset trust
management market, the first quarter of 2008: Any ruble is good to catch
Money is totally absent: The first quarter of 2008 witnessed the stock
market drop and frightened out even the most persistent investors. Optimistic
expectations to enter the market in time of recession were followed by net
attraction to open funds of 5 bln rubles in January, but February saw
indecision (-165 mln rubles) and March was clearly negative (-2.4 bln rubles).
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Areas of development
The asset management market stopped growing in the first half of 20081,
but segments of insurance companies' (IC) reserves and accumulations of NSPF
managed to show positive dynamics. Insurers and pension funds cannot be
efficient without professional asset management and bring their funds to MC
even in instability periods at stock markets. According to Expert RA, by the
end of the first half of 2008 insurance companies' reserves in management
amounted to 30 bln rubles.
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