Which foreigners invest in the Russian stock market?
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Foreigners are returning to the Russian stock market. In 2023, their assets doubled and exceeded 1.3 trillion rubles, Vedomosti writes. But this is still less than half the level of 2021, when the volume was approaching 3 trillion rubles. A third of the total amount is the assets of Cypriot citizens. 120 billion rubles. are kept in brokerage accounts by residents of the United Arab Emirates. The top three in terms of volumes are citizens of Great Britain, they account for 87 billion rubles.
For more information about who invested more actively in the Russian stock market, see the Kommersant FM certificate.
Companies from the United Arab Emirates increased their shares more than others – 15 times. The dynamics were ensured by 90 new legal clients.
The assets of Cypriot companies increased by almost 100 billion rubles, to 0.5 trillion rubles. The assets of legal entities from Uzbekistan increased almost from zero, from 1 billion rubles. up to 86.5 billion rubles. Companies from Belize are active on the Russian stock market; their investments have doubled, to 62 billion rubles. From 2.5 billion rubles. up to 35 billion rubles. assets of Panamanian structures increased.
For residents of 47 countries, volumes fell the most: four times for clients from China, to 3.3 billion rubles. Although Chinese individuals’ assets have increased, up to 2 billion rubles.
Brokerage houses confirm that non-residents are gradually returning to the Russian stock market. They are primarily attracted by its undervaluation, noted Deputy General Director of Digital Broker Alexander Tsyganov: “If you pay attention to the graph of the Moscow Exchange index (MOEX: MOEX), then somewhere from the end of 2022 to the current moment we can observe a strong upward trend. The bulk of it, of course, occurred in 2023.
Among the reasons, one can name a strong drop in the value of assets in 2022, which formed a strong upside.
All this, of course, fuels investor interest in the Russian market, and in general, sector after sector, players invested in shares, pushing prices up. They will have an upward trend, which is still there, and I believe it will continue to move upward.”
Meanwhile, the average account of a foreign investor is two to three times higher than that of residents, brokers note. They also choose the Russian market because others, including the European one, are more difficult to get into, explained BCS World of Investments stock market expert Anna Kokoreva: “This growth is due to demand from both non-residents and Russian players, because there are no options There is much less for investment, but I want to earn money.
In addition, there is now an IPO boom on the Moscow Exchange, new companies are entering the market. Some see this as an opportunity to take on something interesting at the start.
Plus, now interest rates are quite high, including on the debt market, and bonds of Russian companies are also interesting.”
During trading on April 4, the Moscow Exchange index rose above 3,400 points for the first time since February 2022. Analysts expect that in the second it may exceed 3,600 points.
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