The growth of the closed-end mutual fund market has slowed down – Kommersant
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According to the results of the first quarter of 2024, the total assets of market closed mutual investment funds (closed mutual investment funds) of real estate reached 346 billion rubles, said the founder of Parus Asset Management Denis Stepanov at conferences Publishing house “Kommersant”. Compared to the end of 2023, the figure increased by 7%, of which only 4% was provided by the influx of new investments. A quarter earlier, assets grew by 10%, of which revaluation accounted for 1.2%, and 8.3% was provided by new capital.
“Over the past 25 years, real estate has been the best-performing asset, beating dividend stocks, gold, deposits and bonds. This year we expect an increase in the trading volume of closed real estate mutual funds on the Moscow Exchange to 30 billion rubles. The volume of collective investment funds will reach 1 trillion rubles. over the next three years, but in general it should reach 3–5 trillion rubles,” said Mr. Stepanov.
In 2023, the assets of market closed-end real estate mutual funds reached 323.5 billion rubles, which is 33% higher than the previous year. At the same time, the assets of all closed-end real estate mutual funds available to unqualified investors grew by 55% over the year, to RUB 144 billion. That is, the growth of the sector was ensured by citizens—unqualified investors who invested in shares of closed-end real estate mutual funds.
Read more about the market situation in the Kommersant article. “Funds are closing from real estate”.
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