Brokerage accounts are empty – Kommersant FM
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Two thirds of brokerage accounts in Russia were empty. And every fourth investor has less than 10 thousand rubles on his balance sheet, according to a review of the securities market published by the Central Bank. More than 1 million rubles. – only on 1% of accounts. At the same time, the Central Bank records an increase in the total volume of assets. In the second quarter they reached 8 trillion rubles. – this is one and a half times more than last year.
The reasons for the disproportion were explained by the managing director of the Ivolga Capital investment company Dmitry Alexandrov: “If we look at previous reviews, there are approximately similar statistics, which indicate that 3.5% of investors own more than 90-95% of total assets. This actually correlates well with the nationwide savings data.
We do see that a very small percentage of people have real savings. Of course, they partly end up on the stock market, and not just in the deposit mass. In addition, opening a brokerage account has become much easier in recent years. If, say, 10 years ago, this required physical presence and signing a large pile of documents, now this is done in fact in two clicks.
If you open a bank account, then almost always you will automatically get a brokerage account. And this breeds a lot of fake investors who, in general, maybe even especially, do not understand that they have such an account. Or they understand and just try to see what it is for up to 10 thousand rubles. In general, this somewhat distorts the statistics on the actual number of participants.
I don’t see anything wrong with having empty brokerage accounts open. They do not oblige clients to take any action. Current regulation simply does not give them the opportunity to accidentally make some dangerous purchases.
As for the regulator and market participants, the statistics are the same for everyone – it is open. Of course, when decisions are made about the marketing strategy for individual securities or about distribution, it is taken into account, and the work is often directed precisely at wealthier clients, who make most of the volume.
According to the Central Bank, more than 25 million brokerage accounts have been opened in Russia – in April alone, the figure increased by 550 thousand. The low activity of investors is explained by the general situation in the economy, says financial market expert Andrei Barkhota. He believes that empty accounts are a temporary phenomenon:
“At some point, it is advisable to fill the banking sector in order to fund lending, primarily to the real sector, and secondarily to individuals. And at some moments – not crisis, but market growth, on the contrary, it is advisable to send investors’ money to the stock market.
The incidents that we have seen, and this is the freezing of assets and the blocking of payments on Eurobonds, the investor reacts very sharply. And the need for brokerage services is falling sharply, customers tend to get into the cash. The Bank of Russia always points to this, keeping in mind that when there is an upward cycle, both macroeconomic indicators and investor confidence will return to growth, and the ability to cover a wider range of investment instruments.”
According to the regulator’s estimates, the average size of a brokerage account in the second quarter increased by 400 thousand rubles, to 1.8 million. Empty or very small accounts were not taken into account here.
Everything is clear with us – Telegram channel “Ъ FM”.
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