Investors from Saudi Arabia and the UAE are reducing investments in Russian assets
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The Central Bank records a reduction in investments from investors from the UAE, Belize and Saudi Arabia, found out “Ъ”. The growth of assets in non-resident accounts with Russian brokers slowed down at the end of last year: in the fourth quarter of 2023, their volume grew by less than 6%. This is several times lower than the rate of previous quarters.
According to Kommersant’s estimates, based on data from the Central Bank, in the fourth quarter of 2023, the total number of non-resident accounts with Russian brokers increased by 6.6%, to 29.1 thousand, of which 27.7 thousand were with individuals, 1. 73 thousand – from legal entities. Client assets in these accounts grew more slowly: by 5.9%, to RUB 1.34 trillion. In the previous three quarters, investors’ investments grew by 20-35%.
Investments from investors from neighboring countries are still growing, but experts emphasize that for investors investing in Russia, the situation abroad is becoming increasingly volatile. Experts also note that the trend is partly due to the general slowdown in the growth of the Russian stock market.
More details in the material “Investors are shuffling jurisdictions”.
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