Open-end mutual fund. What are mutual funds and how to make money on them

Investing is when money makes money. Banks operate on this principle. They carry out transactions with money and receive a certain percentage or commission from this. Banks also provide an opportunity for any citizen to earn money from the funds he has. They offer and undertake to repay it after a certain time with interest. Such an investment has enough high guarantees, but... does not give much profit. How do banks make money? They provide loans to individuals and organizations at higher interest rates than those paid on deposits.

Many Russian large enterprises, type joint stock companies who have issued shares and bonds sell them, and thus receive funds for their development. Therefore, you can invest money not only in banks, which are intermediaries between private investors and enterprises, but directly in the enterprise, buying its securities (stocks and bonds). You can buy securities either directly from the company or from stock exchange(in Russia this is the Moscow Exchange or St. Petersburg).

Mutual Investment Funds (UIF)

But for ordinary citizens, small and medium investors, the most in a real way purchases valuable papers enterprises is investing in Mutual Investment Funds (UIF). What is a mutual fund? This concept is directly related to the stock market and the financial sector of the economy.

A mutual fund is an organization that private investors trust to manage their money with the aim of making a profit. Investors' money forms the capital of the fund and these funds are used to buy shares or bonds of various enterprises on the stock exchange or invest in other assets. Mutual Fund is one of the forms collective investment and trust management, along with non-state pension funds(NPF) and general funds banking department(OFBU).

In other words, a mutual fund is the savings of a large group of private investors who have transferred their funds to a special professional “manager” to invest them in profitable enterprises and companies. What is the difference investment funds(mutual funds and OFBU) from ordinary bank deposits?

The bank can guarantee a profit on the deposit for the year in a certain percentage of the amount. The funds do not provide any guarantees, but if things go well and the situation on the stock market is favorable, the value of your investments can increase by 20-40% or even more over the year, which is significantly higher. But banks sometimes go bankrupt, and funds suffer losses and show negative returns.

Mutual fund investors—the shareholders—do not receive interest or dividends on their investments. Income is obtained only from the increase in the value of the share (the investor’s share in the fund). If the value of shares has increased, then by selling them (redeeming) you can receive income. The difference between the sale amount and the purchase price will constitute the investor's income or loss.

Who manages and manages the funds of mutual funds?

Management Companies (MCs) register and manage investment funds. They are professional participants in the securities market. For the management of the management company, it charges a commission of about 3-4% per year of the mutual fund’s assets. One management company there may be several funds. They are staffed by professionals, and very often banks create management companies.

Funds created by banks are called general funds banking management (OFBU). OFBU is a complete analogue of a mutual fund, but has more investment opportunities; they have access to investments for international market, including securities of foreign companies.

Types of mutual funds

There are about 15 different types and types of mutual funds. But the most accessible for citizens who want to invest in securities are open mutual funds. By type of investment in securities there are:

• Bond mutual funds
• Share mutual funds
• Mutual funds mixed investments
• Funds of funds

(There are also industry-specific mutual funds that own securities of enterprises in a certain industry).

A little history of mutual funds in Russia

The first mutual funds appeared in 1996. But the real development of this financial sector began in 2003, after the adoption at the end of 2001 federal law"About investment funds." And 2005-2007 can be considered the most successful, when the course Russian shares soared, which led to an increase in the profitability of investments in them and, accordingly, in mutual funds. At that time, the profitability of many stocks reached a record 100% per annum or even more.

It should also be noted that the stock market became accessible to a wider range of citizens after the advent of Internet trading in 1999. If previously brokers opened accounts on the stock market for investors from 50-200 thousand dollars, then after the introduction of Internet trading the entry threshold decreased in some cases to 1 thousand dollars. Transaction fees have also been reduced.

But it is still very difficult for a novice investor to enter the stock market, buy and sell shares and try to make money on the difference in exchange rates without experience and solid financial knowledge. But making an investment in a mutual fund is quite simple, and to become a shareholder of the fund in some mutual funds it only takes a few thousand rubles.

Of course, you will still have to study some analytics about the profitability of various funds and their investment portfolios in order to choose a fund that will bring profit. Many of today's large, financially independent investors who work independently (or through brokers) in the stock market chose precisely this beginning of their investment journey - investing money in mutual funds.

Among the most accessible and stable financial instruments present on the Russian market are mutual funds. They allow any citizen to receive income from investing in certain assets. What are the specifics of the activities of these financial institutions? What income can you expect when working with mutual funds?

What is a mutual fund?

What is a mutual fund, or a special form of investment? Money in the order of collective participation of investors. It is assumed that finances will be transferred to the trust management of a special organization and the subsequent receipt of profit if the partners’ work is successful.

Investing in mutual funds is carried out through the purchase of certain shares - “shares”. At the same time, investors remain their owners, the management company only carries out the necessary financial transactions.

What do mutual funds provide?

The main purpose for which investors go to mutual funds is to make a profit. Mutual funds allow even those investors who do not have significant experience in the field of investing to earn money - the management company takes on the entire amount of relevant work. The specialists of this organization, relying on their skills and competencies, find optimal options for investing the funds they manage. The management company works for a percentage of financial transactions carried out using the capital of investors.

Legal status of mutual funds

What are the benefits of mutual funds? It may be noted that they are not legal entities. At the same time, management companies of mutual investment funds should be such. Mainly, such a difference in legal status is due to the fact that both subjects of legal relations - mutual investment fund and management company - do not overpay taxes. Under the scheme of their interaction under consideration, only the proceeds received by investors upon the sale of shares, as well as provided by law fees from the revenue of the management company as a business entity.

How funds work

A mutual fund operates on the basis of internal rules. They set out the conditions under which investors transfer financial resources under the management of the management company. The relevant organization must have a license confirming its right to manage property owned by mutual funds. This document is issued by the Federal Securities Market Commission. One management company can create several mutual funds.

As soon as the relevant structure receives a license from the state, it must enter into several agreements - with a depository, a registrar, an independent appraiser, and an auditor. The rules that we mentioned above must be included in the FCSM registers. Also, a special document is subject to registration with the relevant government agency - the Prospectus for the issue of shares. As soon as the management company settles all formalities, it can begin financial activities.

The first stage of the management company’s activity is the initial placement of shares. During this area of ​​work, the management company must collect a minimum amount of capital. If this was not possible, then unit trust must be liquidated and the funds transferred to investors.

Control over the work of funds

The activities of mutual funds are subject to state control. Main body which implements it is the Federal Securities Commission. Thus, the legislator, in the course of developing measures to regulate the activities of mutual funds, formed some rules that correspond to investment structures must correspond.

For example, the assets held by mutual funds must be managed by one company and held by another. At the legislative level, norms have been established that require detailed disclosure of information about investments. Mutual fund reports also suggest high degree details of information.

Is income guaranteed?

The specifics of the activities of mutual funds do not guarantee income for investors. The mutual fund company is required to redeem shares as soon as the investor requests it, but there are no legal requirements regarding profitability for the structures in question. That is, despite the fact that mutual funds are positioned as financial instruments for investors who do not have much professional investment experience, it is assumed that capital owners are aware of all the associated market risks.

Essence of shares

Let's take a closer look at what investment shares are. When an investor transfers funds to a mutual fund, he, in fact, acquires a stake in the organization. Thus, an investment unit of a mutual investment fund is a personalized security, which indicates that its owner is among the owners of the mutual fund’s property. This citizen has the right to expect that the management company will properly manage the investment fund. He is also entitled to compensation if the trust contract is terminated.

The share does not have a minimum value. Its monetary value is expressed in price net assets fund. That is, the cost of one taken share is a multiple total amount mutual fund funds divided by the number of shares. The price of the respective shares varies depending on the results of the investment. Pai also cannot be considered emission type securities, like shares. At the same time, financial instruments of the corresponding type cannot be derivatives of shares. The total number of shares in the capital of a mutual fund is not limited by law.

Types of funds

Let's look at what mutual funds there are. There are several criteria for their classification. According to one of the most common, mutual funds can be divided into 3 types: open, closed, and interval. What are their specifics?

Open-end mutual fund - financial institution, which is considered the most common in the corresponding category. Their main feature is the free purchase and sale of shares. The amount of capital, as well as the number of investors, are not limited. The type of mutual funds under consideration is characterized by investing in assets that are classified as highly liquid.

Closed-end mutual funds are characterized by the fact that they sell the resulting shares when the fund is established. These structures do not repurchase shares, not counting precedents when an investor makes claims against the rules of the management company. The corresponding funds are formed, as a rule, for a fixed period, which is agreed upon with investors in advance. A closed-end mutual fund is a structure that often has an industry specialization. For example, its activities may be related to the real estate or innovation market. However, for example, the “First Startup Mutual Fund” is open. Although his industry specialization is innovation.

There are interval mutual funds. The peculiarity of their activities is that the sale of shares, as well as their redemption, is carried out at fixed intervals. At the same time, interval funds mainly work with stocks. Therefore, potentially, such mutual funds (reviews from many investors confirm this) can be more profitable than, for example, open-end mutual funds.

There is another common criterion for classifying mutual funds - the area of ​​investment. Thus, the “First Startup Mutual Fund,” as we noted above, operates in the field of innovation. But there are also mutual funds operating in the real goods market, in the industrial sector.

For example, funds in the bond segment invest funds mainly in the corresponding ones issued by the state, corporations, work with bank deposits and currency. Their assets are usually not formed from shares. Mutual funds classified in this category are considered by many analysts as not the most profitable, but very reliable, which is due to the nature of the bonds, which require mandatory payment of appropriate dividends to investors by their issuers.

In turn, mutual funds characterized by a risky investment strategy are those that work with shares. But at the same time, the profitability in them can be incomparably higher than in funds that invest money in bonds. It may be noted that within this category of mutual funds there are additional grounds for classifying institutions. Thus, there are funds that specialize in investing in shares of large blue chip companies, and there are those that prefer to invest in the assets of start-up companies.

Eat mixed mutual funds. It is difficult to characterize them as operating in a specific segment. But at the same time, many of them combine best qualities funds specializing in shares, namely high profitability and at the same time the characteristics of mutual funds investing in bonds, in particular stability. Investing in such institutions is recommended for investors for whom the relevant financial market is completely new.

Functions of mutual funds

It will be useful to consider what features are typical for mutual funds. They can be classified into social and economic. The functions of the first type include:

• providing citizens with the opportunity to use familiar sources of income - salaries, deposits, even if they do not have specialized knowledge in the field of investment;
• promoting financial education of the population (over time, the investor begins to understand the laws of the market that affect the success of investments);
• creating jobs for financiers, as well as specialists in related fields, lawyers, programmers, secretaries, sales managers.

Among the basic economic functions Mutual Funds:

• increasing the capitalization of various business sectors and the financial market, which ultimately contributes to the growth of the country’s economy;
• assistance to entrepreneurial initiatives - both direct (stimulating financiers with experience to open their own businesses in the form of management companies) and indirect (shaping investors’ intentions to make money by improving knowledge and skills in the field of investing);
• ensuring additional tax revenues to budgets of various levels - through deductions from the income of investors, as well as fees from management companies provided for by law.

Let us now consider the advantages and disadvantages of investing in mutual funds.

Advantages and disadvantages of investing in funds

Let's start with the advantages of working with mutual funds for investors. The most important advantage that any mutual fund has is that the capital is managed by experienced experts. If this criterion is not met, then the management company simply will not receive a license from the Federal Securities Commission. This department puts forward certain requirements for the professional qualifications of owners of management companies and certifies them in the prescribed manner. Mutual funds are usually opened by experienced investors who are confident in their strengths and skills.

Investments in the appropriate type of funds are very affordable. Minimum amount investments in most mutual funds are about 2-3 thousand rubles, sometimes even less. The expected return on them can be comparable to the profit from placing deposits in banks under the conditions established for very large deposits - from several hundred thousand rubles.

Investing in mutual funds in terms of security level in terms of a number of criteria is comparable to the same bank deposits, which are characterized by very high state protection. Control over the activities of funds is carried out by a separate department, and the procedures for the activities of mutual funds require very strict monitoring. Hard state supervision supplemented legal requirements, for example, those that imply the obligation of the management company to place funds in a separate depository.

Among the significant advantages of mutual funds is soft taxation. Current Operations are not subject to fees. Payment necessary taxes required only when selling a share by an investor. In turn, the terms of the management company for commissions are usually quite acceptable for investors - as a rule, 3-4% of capital turnover is taken.

Mutual funds also have disadvantages. First of all, a mutual fund cannot guarantee returns. At the same time, the success of a company in the past does not directly determine the high probability of repeating investment results. It often happens that a well-promoted and popular mutual fund, which has deservedly received such status, chooses not the most optimal investment strategy, as a result of which investors are left with nothing. This may also be due to new market conditions. In addition, even if the management company’s activities are unprofitable, the client nevertheless needs to pay for its services by deducting a commission.

Among the noticeable disadvantages of mutual funds is the relatively low speed of withdrawal of funds by the investor. As a rule, an investor has to wait about a week for cash withdrawal. At the same time, he may have expenses associated with the need to issue special investment certificates.

Experts about mutual funds

What are the opinions of experts regarding the activities of Russian mutual investment funds? Despite these shortcomings, analysts generally consider mutual funds to be reliable, transparent and affordable investment instruments. Experts note that the activities of mutual funds are characterized by a very high degree of openness, due not only to legal requirements, but also to the client-oriented nature of these institutions.

The most important thing, according to experts, is that the mutual fund is managed by professionals. There are financial instruments that assume that profitability will depend directly on the actions of the investor. In the case of mutual funds, they can entrust their capital to experienced people.

Experts note that investors generally trust mutual funds. For example, after the end of the 2008-2009 crisis, when the expected withdrawal of investors from mutual funds occurred, many citizens began to return to interacting with funds at the first opportunity. The dynamics of investment in many mutual funds exceeded the figures recorded before the crisis.

How much can you earn on mutual funds?

What can be the expected profit from investing in mutual funds? As we noted above, funds are divided into several categories - some, due to the desire to invest in shares of dynamically growing businesses, can be more highly profitable, others, which prefer to invest in blue chips, provide less profit. Moreover, in the first case, the likelihood that the investor will be left with nothing is, of course, higher.

It is extremely important how qualified the management company approaches investment issues. Mutual funds opened by experienced market players are usually more profitable and stable than those founded by newcomers - despite the fact that their qualifications have strict requirements at the level of government regulators.

On open mutual funds, specializing, for example, in bonds, average yield- about 10-12% per annum. Funds that invest in stocks can provide higher returns - about 20%, sometimes more. Closed mutual funds occupy a middle position between them in terms of profitability. The “startup mutual fund,” judging by some public data, recorded profits of several tens of percent per annum. But this depends on how much the main asset of a given mutual fund—the capital of innovative companies—increases. Some Sberbank mutual funds, judging by public data, have returns of more than 30% per annum.

Experts in the field financial markets They recommend working with several mutual funds at once, thereby diversifying investments. This could also potentially increase profits. It makes sense, analysts believe, to compare mutual funds based on the amount of commissions and other expenses not directly related to receiving investment proceeds. You can also pay attention to the characteristics of the management company from the point of view of the founders. If the management company is open to a major market player, as is the case, then its reliability is higher than that of companies that have recently appeared in the corresponding segment. Thus, an integrated approach to assessing the prospects for cooperation with a particular fund is optimal for an investor.

Prospects for mutual funds

How promising can such a financial instrument as a mutual investment fund be considered? In general, experts assess it as having very great potential due to the fact that Russian economy In many ways it belongs to the developing category.

Many sectors in the national economic system of the Russian Federation are not saturated. Moreover, in connection with well-known events in the foreign policy arena, new opportunities are opening up for many businesses, in particular in the field of import substitution. Even those sectors that have traditionally been viewed as saturated (for example, the food industry, some segments of engineering and consumer goods) may receive additional incentives for growth. Therefore, financiers have somewhere to invest and, accordingly, management companies that own mutual funds too.

It is known that the profitability of similar structures in Europe is generally lower than in the Russian Federation. Therefore, experts assess the prospects of funds as positive also from the point of view investment attractiveness Russian market for foreign partners. On the other hand, foreigners are quite attentive to the stability of national economic systems as a whole. The high yield of certain financial instruments, such as mutual funds, may certainly interest them. But no less important factor for foreign investor there will be stability of the economy as a whole, strategic prospects for interaction with a particular market. Therefore, the attractiveness of Russian mutual funds will directly depend on how successfully the country’s economic system develops in all other segments.

Growing market

One way or another, according to many signs, the mutual fund market in the Russian Federation is growing, with prospects for further increasing its capacity. The last crisis showed that investors generally trust funds. As you improve economic situation on modern stage development of the national economy of the Russian Federation, it is possible that citizens will acquire new incentives to invest in assets with the assistance of mutual fund management companies. The most important thing is that mutual funds are no longer perceived in the Russian Federation as an exotic financial instrument. Citizens are generally open to mutually beneficial cooperation with these financial structures.

20Apr

Hello! In this article we will tell you everything about the features of mutual funds.

Today you will learn:

1. What kind of profitability do mutual funds bring?
2. How to open a mutual fund;
3. What is the best way to invest in mutual funds?

What types of investment funds are there?

Most of us are used to deposits at a small percentage. Some even keep their own funds at home. Not long ago new ones appeared. They compete with banks and are gaining momentum. Their name is .

These organizations exist for the purposes of collective physical and even means. They allow those who do not have knowledge in the field to get a decent income.

You can open a fund in the following areas:

• Share (unit shareholders of capital);
• Mutual (same as share, only outside the Russian Federation);
• Hedge (available to a limited circle of wealthy individuals).

The whole point of the funds' existence is to make a profit on the joint capital. Each participant brings money, which is combined with the funds of other members. Next, the entire amount is invested, for example, in shares. As a result of completed transactions, it appears certain income, which is subsequently distributed among shareholders.

Such funds are headed by experienced traders or other professionals who know how to properly manage investors' money. Since the amount at stake is large (taking into account all shareholders), the income can be decent.

More about mutual funds

As you already understand, mutual fund is an abbreviation for the word "mutual funds". Means this concept a certain organization, or rather, a property complex, which, under the leadership of a management company, earns profit for its participants.

The money that new investors bring is intended for the purchase of shares. A share means a share of the assets of the entire fund.

Example: one share costs 5,000 rubles. You can purchase 10 shares and transfer 50,000 rubles to the fund account.

When certain manipulations are carried out, the value of the share increases over a specified period. The owner of his share can get it back (buy it back) at a premium. This is the process of the fund's work.

Mutual funds have been developed to make it more convenient. One person, who also does not have a large amount of money or extensive knowledge, will be able to earn little or lose everything.

At the same time, the funds employ several highly qualified specialists who competently manage money and earn interest.

Who can become a shareholder

Depending on what knowledge shareholders have in the field of investing, funds can be divided into:

• Association of qualified professionals;
• Ordinary investors.

If you have read a lot of literature about investing methods, have extensive investment experience own money into different projects, fund or, then feel free to join the fund for professionals. An important factor here is the profitability of your transactions. Big percentage the winnings will only be to your advantage.

For those who are used to storing money on a regular deposit and do not understand deeply financial matters, turning to a regular mutual fund is the most suitable option.

This is more than 90% of Russians who are not particularly interested in profitable ways of investing, but want to increase equity in a new way for them. And due to the fact that interest rates on bank deposits are completely unprofitable, many have become interested in mutual funds.

Types of mutual funds

There are three main types of mutual funds, varying in availability for investors:

• Open (available to everyone);
• Interval (have restrictions on the purchase and sale of shares);
• Closed (for the “selected”).

Open view– these are funds that anyone can join with a minimum contribution. The amount of contribution to them is minimal and can amount to several hundred rubles.

An important feature is that you can buy or sell a share on a convenient weekday. If you wanted to become a participant on Wednesday, no one will stop you. If you wanted to sell your share on Friday, no one is restricting you either.

Interval variety is a little more complicated. Payments of shares or admission of new shareholders are carried out only several times a year. This happens 2-4 times, but not less than 1 time. The period of purchase and sale lasts for half a month, during which anyone can withdraw from the fund or purchase a new share.

Closed-end funds include the most complex structure, they are inaccessible to everyone. Here the restrictions concern, for the most part, the amount of the share. It can range from hundreds of thousands to millions.

Funds invest in large projects, construction residential complexes. Since the investment objects themselves are quite solid and are not cheap, the requirements for investors are high.

What do mutual funds invest in?

There are many ways to make money that are used by investment funds.

The most common mutual funds:

• foreign exchange market;
• bonds;
• shares;
• mixed;
• real estate;
• index;
• direct investments;
• goods;
• venture;
• rental;
• hedges;
• loans;
• artistic values;
• funds.

The names speak for themselves. Investment instruments can be securities, currency, real estate, projects, etc. Fund holders try to use everything that can bring income for profit.

Index funds invest shareholders' funds in securities market indices. They are considered to be RTS, MICEX and others. Venture mutual funds invest in very risky projects that threaten the loss of shareholders' funds. However, if the investment does generate income, it can bring several hundred percent profit.

There is also . These are organizations that are just entering the market and need development and an influx of additional funds. Shareholders' money is spent on promoting such companies, which can bring good profits in the future.

Correspondence of forms and types of funds

We reviewed mutual funds based on their availability to clients and investment methods. Now let's connect this data.

Open and interval funds include:

• Equity funds;
• bond funds;
• Mixed.

According to regulatory framework, the investment methods of the two above funds are made only in highly liquid assets. At the same time, the majority are government bonds, which have virtually no risk.

Eg, all funds of shareholders can be divided into two parts: 70% is invested in government securities, and 30% in shares of “blue chips” (the largest and most profitable companies in the country).

Closed mutual funds can invest in:

• Shares of CJSC;
• Real estate, including land;
• Housing certificates.

The legislation does not limit shareholders closed funds invest in investment instruments of two other funds. It is clear that the percentage of profit of closed-end funds is much higher, but considerable funds are required from shareholders.

An open fund is not entitled to invest amounts in risky projects in order to minimize the losses of participants.

Who owns the funds?

Each mutual fund is headed by a management company (MC), which is responsible for allocating investors’ money and making a profit. The fund itself is not considered a legal entity; this role is assigned to the management company.

Fund management, including the management firms themselves, is under the jurisdiction of the Federal Securities Market Commission. Legislative acts help her in coordinating the actions of mutual funds. Each management company, before starting its main activity, is required to obtain a license. For these purposes, a long and complex certification is required.

The management company can only place funds of shareholders to earn money. Other purposes for spending money are not allowed. To control this process, others were created legal entities– depositories. They are assigned the role of storing money in client accounts. They are the ones who monitor the legality of the actions of the management company and, in case of violations, apply to the Federal Securities Commission.

The structure of the fund also implies the presence of registrars. They are also legal entities. The purpose of their existence is to register customer transactions. Responsibilities include making changes to share registers.

Why mutual fund

But let's look at the advantages of funds:

• The interest rate is higher than on a deposit from a credit institution;
• The activities of foundations are strictly regulated by the authorities;
• Even if it is a mutual fund, then the funds of the shareholders will be transferred under the management of another management company;
• You don’t have to worry that the money will be spent by fund owners for personal purposes, since their reports are audited every year;
• The presence of an independent depository, in whose account the shareholders’ money is located, allows you to be sure that the money will not just disappear;
• Accessibility for investors (even with 1000 in your pocket, you can become a member);
• You don’t need to have professional skills - all investment actions will be carried out by specialists for you).

A lot of advantages make mutual funds more and more popular. Thanks to the support of the state, you can defend your rights at any time. The funds are also suitable for those who want to invest in the money market, but are afraid to do so due to the lack of necessary knowledge. Mutual funds are an excellent alternative to such investing.

About the cons

Of course, investing in mutual funds is a process that has some disadvantages:

• There is no guarantee of income (you can go into minus);
• Additional costs for payment for management services;
• Long-term withdrawal own funds(about 7 days);
• Payment of taxes on profits;
• The current underdevelopment of mutual funds in Russia makes them highly susceptible to influence from the economy, which can negatively affect investors.

For the most part, the disadvantages of mutual funds are due to the fact that funds have recently gained popularity in our country. Few people are interested in them among the general population.

People's distrust does not give this area economic sector countries to develop fully and rapidly. However, the last few years have given us hope for an increase in the number of funds and investment instruments.

Withdrawal of funds is associated with the actions of the depository and registrar. Without their participation, the management company will not return your investment share.

Initially, purchasing a share also takes several days, or even weeks. This process is accelerated only by electronic resources that allow you to quickly buy a share on the company’s website. True, few people trust this type of transaction, and therefore a personal visit to the office of the management company is the most common option.

How much can you earn by investing in mutual funds?

The country's regulations prohibit mutual funds from predicting any profitability, as well as from advertising it. This is due to the fact that profit as a result of participation in the fund does not always occur.

It happens that investors invest their savings in a reliable fund, which has been successfully operating for several years and brings decent income to shareholders. However, the management company may mismanage the money this time. It is possible that the economic environment will contribute to this.

In this case, you can not only lose your personal money, but also go into the red. The latter occurs in practice due to the fact that management services are paid regardless of the results of transactions.

The above situation is extremely rare. Most often, shareholders receive their profits and safely purchase new shares. Of course, it is impossible to say the exact income, but it definitely exceeds the interest on classic deposits.

It is not recommended to judge a future transaction based on the investment results of the past period. If for last year Sberbank mutual fund brought 75% of profit, but this year it can earn only 10%. This value is not regulated at the legislative level and depends on the situation, investment methods and timing.

Compare mutual funds and other ways to earn money

We have already found out that mutual funds are more profitable than bank deposits. If we consider direct investment and with the help of funds, then the first option is more advantageous. But we must understand that investing without intermediaries requires a lot of capital and thorough knowledge of the intricacies of a particular instrument. The funds will bring lower returns due to the placement of a lower amount and commissions of the management company.

You can directly ( , ), currency market, new projects and more. Such an investment will bring income, but it also requires significant costs.

The main advantage of funds is their accessibility to the population. You can enter minimum payment and make a profit.

Mutual funds also invest in real estate (real estate fund) and other assets. Only in this case can you become a participant in a large project with minimal costs.

In addition, if for some reason you do not like one fund, you can transfer funds to another one managed by the same company without loss. Thus, you can change the investment instrument and some terms of the transaction.

The most profitable type of mutual fund

The issue of obtaining profitability also depends on investment instruments. Bonds issued by the Government of the country are considered the most reliable. True, their profitability is slightly higher bank deposits. But if you are just starting to show interest in funds, then you can start with government securities.

Investing in securities of joint stock companies is considered a risky activity. This is what a joint stock investment fund does.

Most stable income bring companies that have existed for several decades. Their shares are the least susceptible to price fluctuations. You can also invest in shares of new companies. Their securities may fall or rise in value unpredictably.

A mixed portfolio of stocks and bonds allows you to simultaneously preserve part of your capital and attract additional profit. At the same time, the state clearly delineates the percentage ratio in such an investment portfolio. Government bonds of one issue cannot exceed 35% of it, and securities of joint-stock companies and foreign companies occupy 20%.

The riskiest investment is considered to be investing in low-liquid assets (real estate, land, startups, etc.). It is possible to withdraw money from funds investing in such assets only after a few years, usually 5 - 15.

This is done to prevent investors from withdrawing their funds, which would lead to the bankruptcy of the fund. However, such a risky undertaking can bring huge profits.

Diversifying the portfolio

The totality of all instruments chosen as an investment represents investment portfolio. Its diversification is a set of as many investment objects as possible.

Eg, to increase capital, you can invest money in joint stock companies shares, government bonds, rent out an apartment, put money in the bank at interest. That is, you distribute all your funds between several sources of income.

Diversification is quite beneficial in terms of saving money and generating income from risky activities. If you have invested in a dubious transaction, then your capital can be saved with the help of the remaining investments.

With regard to funds, the legislation does not prohibit shareholders from having shares in several mutual funds. You can buy at least one share of each existing fund. If a management company places funds in several mutual funds, you have the right to distribute your money in each of such funds.

What are the upcoming expenses?

Investments require not only an initial deposit, but also the costs of intermediaries.

Costs of working with funds include:

• Extra charge when opening an account;
• Commission upon redemption of a share;
• Commission from the total income in favor of the management company;
• Maintaining a bank account;
• Payment.

When opening an account, it is better to choose a bank that belongs to this mutual fund. In this case, you will not have to pay account maintenance fees.

When you purchase a share, a commission of up to 1.5% will be deducted from your amount. It will reduce the number of shares issued to you. Moreover, their number can be indicated as a fraction of the total capital of the fund.

After buying out your share, you will also have to say goodbye to a certain amount not exceeding three percent from your share. Total income, which the management company received, is subject to a commission (usually up to 10%) to cover the company’s expenses.

Payment of tax on income received is expressed at 13% for residents and 30% for persons who are citizens of other countries.

This tax does not need to be paid if:

• You have held your share in the mutual fund for 3 or more years;
• If the amount of the profit share was less than 125,000 for the year.

Please note that tax is only paid upon withdrawal from the fund. Personal income tax amount The management company pays for you, so you don’t have to additionally contact the tax office. When you leave the mutual fund, you will receive an amount in your hands from which tax has already been deducted.

Where to find the current value of your share

To view all the information about the invested money, you need to go to the mutual fund website. Here is information regarding the cost of the share. If you bought a share in an open-ended fund, the online data is updated every day. If you purchased a share in an interval mutual fund, then the information can be updated only once a quarter.

The share price is calculated using the formula: net asset value/number of shares. For example, the fund’s assets are 5,000,000 rubles. Total shares - 8000. Cost of one share: 5000000/8000 = 625 rubles. If you have 10 such shares, then your amount is: 625 * 10 = 6250 rubles. The initial purchase of a share for 500 rubles reflects an increase in the share by 125 rubles. The total increase of the shareholder is 6250 - 500 * 10 = 1250 rubles or 25%.

Information on shares is available to each investor. You can also find out by contacting the management office.

Rights of shareholders

For the duration of the terms of the agreement between the management company and the investor, the latter is vested with the rights:

• Require an effective asset management process;
• Monitoring the progress of the management company’s actions (you can view the company’s reporting and also find out how it manages the amounts);
• Refund of the value of the share if the management company violates the terms of the agreement;
• Selling a share or providing it as collateral (a share is a registered uncertificated security displayed in an electronic register).

In case of any unauthorized actions of the management company, the investor has the right to go to court. On the shareholder’s side there is also a depository, which under no circumstances will violate the clauses of the agreement between the management company and the investor.

Before concluding an agreement with the management company, you may want to inquire economic activity companies. No one will bother you to study the reporting documentation, find out the profitability of previous transactions, and also read the rules of the fund. If the management company has made several unsuccessful investment attempts, you will also be aware of this.

The management company does not have the opportunity to deceive its own clients. This will lead not only to litigation, but also to loss of reputation, which will not be so easy to restore.

How to become a mutual fund investor

The process of purchasing a share takes a little time and is not much different from opening a standard deposit with a credit institution.

You need to go through the following steps:

• Select an investment instrument;
• Find a fund that provides such a service;
• Write an application for admission as a shareholder and receive details for paying for the share;
• Open a bank account;
• Transfer funds for the management company;
• Wait for the results of the transaction.

The application, which is written during the initial application, gives the right to multiple purchases of shares. That is, today you deposited the amount for 10 shares, and in a month you can buy another 8 pieces. Also, if you decide to buy out your share, then further purchase of shares will be available to you.

You can contact the fund directly at the company’s office or through the website. In this case, notification of registration of a shareholder's share occurs within 7 days if you personally contact the office. In other cases, the company sends a written notification, which may arrive in two weeks, depending on the speed of delivery of items.

From the moment you purchase a share in the mutual fund, you are a full-fledged shareholder. Further settlements with the company for the purchase or sale of shares will occur through your bank account.

Development of mutual investment funds in the Russian Federation

Mutual funds in Russia have not yet earned the popularity they have in the West. This is due to the financial literacy of our population, which remains low, and to the fear of something new. Financial pyramids at one time they made a lot of noise and discouraged the population from investing in profitable projects.

The number of mutual funds in Russia is only growing, and the number of investors is still increasing. But this process is extremely slow. Funds appeared in the country not so long ago, and legislation in this area is still imperfect. Gaps in the regulatory framework make themselves felt quite often.

The profitability of mutual funds in Russia in exceptional cases exceeds 20%. However, management companies attract clients in every way and predict high incomes. As a result, the population forms the impression that funds are a win-win option that will bring mountains of gold to everyone. Great expectations of investors and disappointment in the form of not so high interest rates clients are not always interested in repurchasing shares.

Nevertheless, legislative norms are becoming more and more perfect, adapting to the conditions of our country. Those investors who have already received a high income on shares once definitely put money into mutual funds.

The most profitable mutual funds 2017

Although the indicators previous periods are not a 100% guarantee of future income, let us turn to the leaders of the fund market in 2016. This way you can find out what funds in Russia are capable of and roughly orient yourself in future investments.

The companies reflected in the table brought the greatest profit to investors.

The data from the table suggests that the energy sector generates decent income for its investors, and investing in indices allows, under a successful set of circumstances, to receive over 100% of the initially invested amount.

Purchasing a share in one of the companies presented above does not guarantee you high profitability. With a competent approach from the management company, you can earn 150%, and any incorrectly calculated decision will lead to the loss of investors’ funds.

What's the best way for a newbie to act?

If you decide to deposit funds into a mutual fund, carefully study the entire fund market and analyze the latest transactions of the management company. This is easy to do using reports on information channels. Also read reviews from investors.

After choosing a management company, do not rush to purchase a share. Visit the company office. If its representatives promise high income and too low commissions for their own mediation, you should not linger here. Such a company is only interested in the influx of new customers, and not the latter’s receipt of income.

Adhere to the following rules:

• Choose which instrument you want to invest in (balance the risks and possible losses);
• If possible, invest in several projects or different securities;
• If, after paying for a share, you see how quickly it is losing price, do not wait until you are completely left without money;
• Before buying a share, look at its cost. Monitor the price fluctuations over the course of a few days. As soon as it becomes minimal, make a purchase. This way you can earn more.

The main thing is not to think about high returns. Determine for yourself what income would be sufficient for you. Based on this, make your first purchase of shares. As you gain experience, you can move on to riskier instruments.

A mutual fund allows participants to earn income from investing in securities, real estate and other assets. Main feature investing in mutual funds has a low level of risk compared to investing in stocks and bonds. The investor acquires a share in the fund's property, while the fund itself is managed by a separate company - a professional market participant. If you have chosen the right mutual fund and management company, there is nothing to worry about: you will be able to receive a stable income and increase your savings. Read below about all the nuances of the work of mutual funds in Russia and their classification.

Mutual funds - definition, basic operating principles

The definition of mutual funds is given in Law No. 156-FZ of November 29, 2001 “On Investment Funds”. According to normative act, A mutual fund is a separate property complex consisting of property transferred to the company by the founder with the condition of combining this property with the property of other founders, as well as property received as a result of management itself. The share in the ownership of property is certified by a security, the issuer of which is the management company (MC). To simplify, we can describe the process of the fund’s activities as follows. The investor transfers his funds to the management company, which invests them in those assets that it considers the most promising. A management company can purchase shares or bonds, invest in real estate, etc. Profit from the investment of shareholders' funds in certain assets is distributed among the participants of the mutual fund in proportion to the number of shares. The investor has a security that confirms his right to receive part of the fund's property.

Investing in mutual funds is beneficial for those investors who do not have sufficient knowledge about financial instruments, therefore, they are afraid to make decisions on their own regarding investing in stocks, bonds and other assets. In addition, you can invest in mutual funds with even a small amount of savings - from 1000 rubles or more.

Pros and cons of investing in mutual funds

The main advantage of investing in mutual funds is relative safety: the activities of the management company are controlled government agencies. In addition, the funds and assets of the fund are separated from the property of the management company, therefore, even its bankruptcy will not cause harm to the participants of the mutual fund. Investing in a mutual fund is also tax advantageous. Income tax investors pay only when they leave the fund, regardless of changes in the value of the investment portfolio.

At the same time, speaking about the “pros” of such investment, one cannot fail to mention the “cons”. In fact, the management company plays the role of an intermediary, and for its services it charges a certain fee, which does not depend on whether the profit is received private investor or losses. There are 3 types of management remuneration possible:

• premium when purchasing a share (up to 1.5% of the cost of the share);
• discount when selling a share (up to 3% of its value);
• percentage of the fund's net asset value (from 0.5 to 5% per annum of the asset value).

By law, mutual funds are prohibited from advertising expected returns: they have the right to show only their previous results, on the basis of which investors can draw appropriate conclusions.

To understand which funds you can choose for investing, it is important to understand their extensive classification, which we will discuss below.

Classification of mutual funds

Mutual funds are classified according to several principles. Depending on the method of buying and selling shares, there are 3 types of mutual funds:

1. Open: The management company has the right to sell and buy shares at any time, therefore, investors can invest and withdraw their funds when it is convenient for them.
2. Interval: the redemption and sale of shares are carried out only at specific, pre-agreed periods. For example, during the week 4 times a year.
3. Closed (for example, mutual funds investing in real estate). A share can only be sold at the end of the fund's life.

Open-end funds keep their assets in a highly liquid form: they invest in government securities (at least 35% of total assets must be bonds); into securities of other countries; in municipal and corporate securities (shares and bonds of Russian enterprises). When investing in corporate securities, the value of shares and bonds of one issuer cannot be more than 20% of the value of all fund assets. Also, open mutual funds can place investors' funds in bank accounts, but so that the share of all funds placed in one bank does not exceed 20% of the fund's total assets.

If we compare open, closed and interval mutual funds, the first ones turn out to be convenient for the investor due to the ability to freely manage their funds. However, as with deposits, maximum income can only be obtained by investing for a long term, i.e. into closed and interval mutual funds.

According to the areas of investment, mutual funds are divided into stock funds, bond funds, mixed investments, money market, venture funds (funds investing in innovative developments), hedge funds (managed by highly qualified investors, not common in Russia), real estate funds, etc. Only qualified investors can invest in venture capital funds, hedge funds, private equity funds, real estate funds and credit funds (this is a condition established by law). As a rule, such funds are closed. The concept of a “qualified investor” has appeared in Russia since 2007: such participants stock market may invest in riskier funds.

It's no secret that in Lately The population is actively encouraged to invest in mutual funds: not always in large ones and not always in reliable ones, more often in highly profitable ones, allowing them to receive a profit of 50 to 100% per annum. We will talk about whether you should trust such promises and how to choose a fund to invest in in the next article.

Good afternoon, dear readers! We continue to talk about investments. I would like to draw your attention to such a structure as a mutual investment fund, which receives undeservedly little attention from Russians. Unfortunately, financial literacy The population of our country is at a fairly low level. Those of us who try to preserve and increase our capital are mostly self-taught, who achieve their goals through trial and error.

Unfortunately, our education system does not provide knowledge in the field of personal finance management. This is a very big mistake on the part of the state! Economic and political cataclysms, the experience of our parents, taught us by all means not to let go of cash and to avoid any organizations that offer to increase capital.

This state of affairs is bad both for the population and for the country as a whole. A large number of funds are withdrawn from circulation, which hinders economic development. At the same time, keeping money at home is not able to protect it from inflation, which is slowly but surely reducing your emergency reserve. Money must work - this is an immutable rule! Therefore, we will tell you how to become an investor using mutual funds (UIFs)! For those interested in the topic of investing, we suggest that you read the article.

What is a mutual fund: every bit of it!

Mutual fund is a concept that is known to every American schoolchild, since the state actively teaches children to manage personal finances from an early age. Any one of them will answer,what is a mutual fund, - capital formed by pooling the contributions of a group of people, which is transferred to a special company for investment in order to generate income. The transfer of a fund and its subsequent investment in assets is called trust management (TD).

For example, when you deposit money, you place the money at the disposal of the bank. He invests them and then returns them with interest, which he pays thanks to the income received. Mutual funds have a similar principle: you transfer money to a management company (MC), which invests them in investment instruments, and then receive them back with interest.

The difference is that the amount of income is not known in advance. It is calculated based on the financial results of the mutual fund. By the way, there is a possibility of receiving a loss, but this happens quite rarely. Significant advantage is that with the help of a mutual fund you can get annual interest significantly superior to banking! But we'll talk about numbers later.

By placing its capital in this way, the individual entrepreneur becomes the owner of shares, that is, securities that confirm the right to part of the mutual fund’s property. In addition, the share gives the right to demand from the management company the fullest possible fulfillment of its obligations, and in case of termination of activity, payment of a penalty. What’s interesting is that one management company can transfer the fund to another for management, which has already happened in Russia.What is a mutual fundWe figured it out, now let's talk about their types and types.

Mutual investment fund: classification!

According to Law No. 156-FZ, the following investment funds are distinguished:

• qualified investors are individuals or legal entities that have access to the stock exchange and can independently enter into transactions for the purchase and sale of securities.
• ordinary investors are that part of the population that wants to invest money to increase it.

Depending on the degree of interaction with shareholders, the following types are distinguished:

1. Open.

Imply the possibility of returning the owner’s share at any time! In this case, the validity of the remote control agreement is automatically terminated. Open-end mutual funds usually accept investors even with small amounts, so our fellow citizens actively bring their savings there.

1. Interval.

The ability to withdraw money from such a fund is limited. Each management company independently sets the time intervals (usually 14 days) when a refund can be requested. Typically this opportunity is provided several times a year. detailed information this is contained in the rules of the management company, which can be read during a personal visit to the management company.

1. Closed.

Investing in them involves a lot of risk. The fact is that closed-type investment funds are created to implement a goal (project), so it is extremely difficult to predict the results. Refunds occur only upon completion of the project, the duration of which is at least one year, but not more than 15 years. It is very profitable for management companies to create such mutual funds, since there will be no sudden outflow of capital from the project, which could jeopardize its implementation. In addition, they are very convenient for medium- and long-term investing. There is no need to buy securities with high liquidity, because funds will not be needed urgently. The payment deadline for obligations is known in advance.

Depending on the investment instruments in which the management company invests accumulated funds, mutual funds are divided into:

1. Mortgage.
2. Venture.
3. F. real estate.
4. F. loans.
5. F. shares.
6. F. bonds.
7. Mixed F.
8. Index F.
9. F. money market.

Most popular on this moment in Russia they are open or interval, which deal with securities purchase and sale transactions. It is not difficult to determine where the collected funds will be sent. The name speaks for itself. But we will still explain some of them.

The mixed fund deals with different types Central Bank at the same time. A money market fund invests in foreign currency. For those who are not familiar with the types of securities, we recommend the article .

Venture capital funds are invested in projects, central banks, and startups with a high degree of risk. For what? The higher the risk, the higher the return. If venture project turned out to be successful, then we can talk about profits that amount to hundreds of percent. But the risk of losing everything is quite high. The asset portfolio of a venture investment fund can be very diversified.

Where the funds will be directed depends on the type of fund and its investment declaration (ID). The first parameter is regulated by the Federal Securities Commission; it determines the powers of each type of fund. The ID is formed directly by the management company. Important! Having decided on the types of assets within the framework designated by the FCSM and securing them in the ID, the management company is obliged to adhere to this list. Shareholders can control where their funds are directed using quarterly reports on actual investments.

Mutual investment fund: how is income generated?

Now let's talk about how the income of shareholders is formed. It's very simple: buy cheaper, sell more! The point is that an investor buys a share at one price and sells it, if necessary, with an increase. That is, the sale price is higher than the purchase price. Due to the growth in the value of assets in which money is invested in order to make a profit. Important! The annual percentage is calculated conventionally, for clarity. The investor does not receive interest on the invested amount. The price of the share (share) only increases.

Any investment involves risk, especially when we're talking about about objects with which you can get an annual interest rate significantly higher than the bank interest rate.

Data on how much your share is worth is updated daily. Information is published on the official website of the mutual investment fund. If we are talking about the interval type, then the cost calculation occurs once a month. The formula is simple: total cost The net assets (NAV) of the mutual fund is currently divided by the number of shares.

5 reasons why mutual funds can be trusted?

As mentioned above, a mutual fund is not a company or organization, but a collection of investors’ funds. The legal entity in this case is the management company, which manages the fund.

Reason 1. The activities of the management company are under strict control by the state.

Control functions are assigned to the FCSM. This is the main one government structure, which controls the activities of all funds.

Reason 2. Trust management is a licensed activity.

Only a company that has received the appropriate license can engage in such activities.

Reason 3. The principle of division of property applies: the management company only manages the funds of depositors, and the depository is in charge of storing them.

A depositary is a legal entity that stores depositors’ money, monitors the legality of transactions with them and keeps records. Controls the number of shareholders and the volume of their assets, for this purpose they create special accounts depot

The depositary cannot dispose of the assets of shareholders that are stored in its accounts. He is only concerned with monitoring that the management company adheres to the letter of the law and the rules of the management system. In addition, this organization ensures that funds are invested only in those assets that are indicated in the ID.

If the depositary receives an order from the management company that contradicts the ID or the law, then it will not fulfill this order, since it stands for the protection of the interests and rights of shareholders. The depository reports on each such case to the Federal Securities Commission, as well as on other identified violations.

The management company may have its own assets that are stored in its accounts, but the fund is separate to exclude the possibility of abuse of powers.

Reason 4. Every year the management company undergoes an audit.

Such multi-stage control eliminates the possibility of using the money of a mutual investment fund for other purposes. Investors' shares cannot disappear without a trace, just like the fund itself. The only risk is incorrect investment decisions made by the LP, which may result in losses. Now let's talk about the last important reason why you shouldn't be afraid to invest inmutual investment fund.

Reason 5. Even if the management company declares itself bankrupt, the fund will not disappear, but will simply be transferred to the management of another specialized company . Such cases have already occurred. Agree, this reduces the degree of anxiety about your investments.

How to invest money in a mutual fund: 5 simple steps

Becoming a member of a mutual fund is quite simple. We'll tell youhow to become an investor, by using step by step instructions. It is difficult to say how much money this will require, since each mutual fund has its own requirements.

Step 1. Selecting a fund: 3 important criteria!

The first step, as is usually the case, is a very important one. You need to choose which mutual fund to invest in! It's not just a choice between a dozen options. This is a choice of your financial future, so you need to approach the process with great responsibility. You need to choose a mutual fund depending on a number of criteria, which we will list below.

Criterion 1. He who does not take risks, does not drink champagne!

Analyze what level of risk is acceptable for you. In this case, you need to focus on your age, amount of funds and investment portfolio. If we are talking about a small amount accumulated with difficulty, then naturally the risk must be minimized by all means. This also applies to pensioners, because with age the ability to earn money is greatly reduced, which means that you need to protect your existing capital; it will be extremely difficult to restore it.

If you already have investments with moderate risk, then you can add less reliable instruments to your own investment portfolio. This will give you the opportunity to earn big. But risking more than 20% of assets is irrational. Most often, private investors invest money in F. shares, which have a fairly high degree of risk. It is more reliable to invest in bonds or mixed funds.

Criterion 2. Entry threshold: you can’t jump over your head!

Criterion 3. Financial performance.

An important criterion when choosing mutual funds are financial results. That is, an increase in the value of shares. This information is also freely available. Take the trouble to look for information on the company’s official website, because this is important! Also take an interest in the history of the management company, availability of licenses and reviews on the Internet!

Step 2. Visit the bank

After the decision to choose a mutual fund has been made, you need to open a bank account. Usually a current one is required. They are torn off for storing, transferring and receiving funds. With its help, you will transfer funds to the management company’s account to purchase shares, and then receive money after the repurchase. Don't forget to take your account details.

When choosing a bank, pay attention to the commission it charges for servicing settlement transactions. It is possible not to pay a commission at all; to do this, you need to choose a management company and a bank that belong to the same financial group.

Step 3. Visit to the management company

Now it's time to go to the Criminal Code. There, the future investor will need to fill out an application for the purchase of shares and familiarize himself with the rules of the remote control. In addition, indicate whichmutual investment fundyou choosed. Don't forget to find out how you can receive information about the status of your securities account. Many management companies already provide data in electronic format, some use the services of the Russian Post, but there are also those that require the personal presence of the investor. Be sure to take your account details to transfer funds.

Step 4. Transfer money: pay for the purchase!

How to invest money in mutual funds? Simply transfer money to the management company’s account using the details received during your personal visit. The purpose of payment usually indicates the full name and application number. This can be done very conveniently using the Internet banking service. If you are afraid of the number of details that you need to fill out yourself, then you can make the first payment with the help of a bank specialist. It will help form payment order, which in the future you can simply copy and enter the required amounts.

Step 5. Wait for confirmation

The final stage comes down to the fact that you need to receive confirmation that the shares have been credited to your deposit account. As mentioned earlier, depending on the security policy of the management company, confirmation can be received by email (5-7 days), by mail (14 days) or by visiting the company’s office (5-7 days). Herehow to invest money in mutual fundsimply and without delay! The whole process will not take more than two to three days!

In the future, you will need 10-15 minutes of free time to purchase shares. It will be enough to generate a new payment order and send the money to the account of the management company, which will automatically transmit an order to the depositary to credit the shares to your investment account.

Mutual Fund Rating 2016: TOP 10 funds with the highest profitability!

The leaders among mutual investment funds in 2016 were:

1. URALSIB Energy perspective.
2. First place in the mutual fund rating This foundation deservedly received it. The value of the share has increased by 140% over the years! Agree, no bank gives such a deposit rate.
3. Raiffeisen - Electric Power Industry. The increase in one year is 111%.
4. Gazprombank – MICEX Index – Electric power industry. This mutual fund showed 107% growth.
5. Otkritie – MICEX Index – electric power industry. The figure is only 3% lower than its predecessor and amounts to 104%.
6. VTB – Electric Power Fund. Growth – 102%.
7. RGS - Electric power industry. Close on the heels of the Electric Power Fund. The increase in value in 2016 was 101%.
8. Maxwell Energy. This is the first fund whose growth rate is below the 100% mark. Cost per Last year increased by only 89%.
9. April Capital – Second tier shares. Showed a profitability of 85%.
10. April Capital – Shares of commodity companies. The increase was 83%.
11. Sberbank - Electric power industry. Completes our mutual fund rating increased by 75%.

It's worth the risk for such profits! But it is important to understand that these indicators are not the net profit of the shareholder.

A few words about the mandatory expenses of the investor!

Expense item 1.The management company may provide premiums to the cost of shares and discounts. That is, when buying, the investor will pay a little more than the real value of the shares, and when selling, he will receive a little less. This is a kind of commission for transactions performed. It is best to inquire about it during a personal visit to the company. Maximum size The premium (if there is one) is within 1.5%, and the discount must be within 3%.

Expense item 2.Remuneration of the management company and the depositary. They are automatically withdrawn from the mutual fund. And the cost of the share is immediately calculated taking into account this expense. The amount of remuneration may be more than 10% of net assets.