Everything about investing in a mutual fund (mutual investment fund). Obvious disadvantages of Russian mutual funds, which are not usually discussed. Is it really possible to make money on stock shares?

Greetings, dear reader!

Did you know that Robert Kiyosaki considers the biggest risk today to be inaction? If you share his view and are not timid, I will explain that there are excellent alternatives to bank deposits. For example, investing in mutual funds.

A mutual fund is an investment instrument, often a long-term one, that helps increase capital. His job is as follows: you come with a certain amount of money and use it to buy shares of a mutual investment fund. Other participants do the same.

The fund's management company (MC) accepts money from investors, accumulates it and gives instructions for the purchase or sale of shares, bonds, and real estate. Shares, for example, give ownership of a business. It turns out that you also own a share (even a tiny one) of the business.

What business do you own? To the one that buys the management company. She diversifies her portfolio and buys different stocks. These are usually large well-known players: Sberbank, Lukoil, Megafon, etc.

Height valuable papers of these companies brings growth to the share you purchased. If you decide to sell them, they might go for a bargain price and you'll keep the difference. But shares may also lose value.

Types of mutual funds

Investment in the fund is carried out at any time or in deadlines. It depends on the type:

• open;
• closed;
• interval.

In an open-ended fund, you can buy and redeem shares at any time.

A closed-end mutual fund investment fund usually purchases real estate. You can enter with investments when it is formed, and exit when the fund expires. It is impossible to receive your share until the property is sold.

Investing in an interval fund implies that purchases and sales occur several times a year (as specified in the contract).

The objects of investment in mutual funds also determine their types. The most common investments you can make are:

• in shares;
• in bonds;
• in real estate;
• mixed;
• to index funds.

How much money do you need for investment?

Depending on the type of investment fund, there is a different entry threshold: from 1000 rubles and less (for open ones). For closed ones - from several hundred thousand rubles. If you plan to invest regularly, the contributions will be much less than the initial investment. With additional investments there is a possibility of greater profit.

Pros and cons of investing in mutual funds

Investments in mutual funds attract some and repel others.

Profitability and risks

What is the attractiveness of investing in such institutions?

The arguments for and against are as follows:

• the opportunity to earn good money (compared to bank deposits);
• you can exchange shares of one mutual fund for shares of another in the same management company;
• minimum investment management, time saving (when compared with securities);
• protection of shareholders (the management company must be licensed, risky operations, as well as the intended use of shareholders’ funds, are controlled by independent bodies);
• reporting on the structure and composition of assets;
• low entry threshold.

Disadvantages of investing:

• no one guarantees profitability, there is a risk of loss;
• The management company may lose its license, and then it is necessary to find a new management company;
• In order for investments to generate income, it is necessary to hold funds for at least 2–3 years.

Underwater rocks

The interests of investors are protected by the state: different organizations (MC, depositary, registrar and auditor) are involved in managing investments and preserving them, and control over all participants is with Federal service on financial markets)

But the state is not responsible for the results of the mutual fund’s activities. In advertising brochures investment funds undertake to post the following text: “Past performance does not guarantee future income. The state does not guarantee the return on investment.”

How to choose which mutual fund to invest money in with the greatest benefit: step-by-step instructions

Quite difficult to choose profitable mutual fund for investment, since last year's profitability is not a guide. The same goes for cost indicators. net assets, alpha, beta and Sharpe coefficients. They show the success of investing in the past.

The market and the fund are complex systems that cannot be controlled. The work of an investment fund depends not only on economics and politics, but also on the professionalism of the people who make important decisions. But there are points to consider when investing in a fund.

What to look for when choosing a mutual fund

There are significant criteria for investing in the fund. Go through them all:

• the amount of commissions (more details in the mutual fund commission section);
• the investment fund has been operating for at least 3 years;
• relative returns over several years of operation are higher than the market index;
• dynamics of capital growth (more investors, stronger reliability of the investment fund).

Where can I buy

You can start investing just like in the office management company, and through its agents. The difference lies in the amount of the entry threshold. In management companies it is much higher (since the work is focused on large investors and funds management).

Pleasant: you won’t be charged a premium here. The agent’s work is aimed at interacting with old shareholders and attracting new ones.

List of leading mutual funds in Russia

Popular mutual funds in terms of investment volume per year include: VTB Capital, Sberbank, RSHB Asset Management, Gazprombank, Raiffeisen Capital, Otkritie, URALSIB, Aton Management, TRANSFINGROUP.

Mutual Fund Commissions

Mutual funds charge a commission for managing funds. It comes in 3 types:

• allowance. Charged when purchasing a share (up to 1.5%);
• discount. Charged upon sale (the more you hold the deposit, the lower its value);
• for management. The value ranges from 0.3 to 1% of net asset value annually.

As a result, you can leave 1-3% of the profit. To reduce fees, it is worth holding funds for at least 3 years. The same applies to the premium if the investment was on a large amount. Federal Law No. 156-FZ “On Investment Funds” provides for restrictions: maximum size surcharges - 1.5% of the calculated value of the share, discounts - 3%.

Investments can cost you 13% income tax, if you redeemed the share with a profit for a period of less than 3 years. After this time has expired, the tax office will provide you with a tax deduction in the amount of 3 million rubles annually. The longer you have funds in an investment fund, the more significant the deduction amount.

Investment strategies

To see the result, use the averaging method: regularly (ideally monthly) set aside funds for investments. On stock market within 2–3 years, a decline is common.

During such periods of time, shares can be purchased at minimum price. Bottom line: the market may not rise, but your investment will turn out to be a winner. If you invest a large amount at a time, profitability is not guaranteed.

Another way of investing is the method of aggressive averaging. It will require a certain amount of money in reserve and monitoring of the RTS index (the main indicator of affairs in the stock market).

There are 3 scenarios here:

• if the market has grown more than 0% in a month, invest 1000 rubles;
• market decline in the range from 0 to -5% - invest 2000 rubles;
• market decline of more than 5% - buy for 3,000 rubles.

So, when investing during a recession, we buy shares of several companies (20–30) at low prices. Recession, as well as growth, is characteristic of the stock market.

Alternatives to investing in mutual funds (ETFs)

There is another investment tool - ETF. He, like the mutual fund, uses collective investment of funds.

Differences:

• you need a brokerage account or IIS;
• the activity of the management company is more passive: it does not strive to beat the index;
• commission is lower than mutual fund;
• It is believed that ETFs are more transparent: control not only from the Central Bank of the Russian Federation, but also from foreign authorities.

Not suitable for everyone: Some government employees cannot own foreign securities.

A mutual investment fund (UIF) is a financial instrument that, in my amateur opinion, is now gaining momentum. Bank employees are beginning to intensively push to offer citizens shares of various mutual funds subsidiaries of their management companies.

People, seeing how rates are falling bank deposits, and receiving offers from the bank to extend the deposit for a new term with an interest rate significantly lower than they previously placed, they begin to think about whether it’s time for them to place their money somewhere else.

And then a bank employee gives a calculation of what income a citizen would have received in 2016 if he had purchased shares of this or that fund. Usually they really only show the profitability of the fund (from the native line that showed maximum income for 2016. And now a citizen, seeing what income he will receive in a year from a bank deposit (and this is now in the region of 7-9%) and the income that he can potentially receive (most likely, a person’s imagination draws dozens, or maybe hundreds percentage of return). He decides to purchase shares of a mutual fund and thus invest in our (or not only our) stock market.

The table below shows the statistics total cost net assets of open and interval mutual funds of the Russian Federation for the period from 01/01/2014 to the present.

From the data presented, you can see that since the second quarter of 2015, the value of net assets has only been growing and in two and a half years has grown by more than 100%.

Neither the strengthening of the ruble in 2016 nor the fall of the MICEX index in the first half of 2017 is an obstacle to this.

So what are the main disadvantages of Russian mutual funds?

1) A mutual fund can radically change its investment profile. That is, you want to invest in one asset class and thus purchase a fund that invests in the corresponding assets, but then unexpectedly for you the fund may change its position investment strategy and instead of investing in some assets (in which you wanted to invest initially), it can be transferred to other assets that will not be of interest to you.

So you can buy a mutual fund that invests in shares large companies Western Europe, and after some time you will see that you are investing not in shares of Western European companies, but in shares of companies developing countries. Such an example occurred with shares of the mutual fund "Gazprombank - Western Europe", whose shares were exchanged for shares of the mutual fund "Gazprombank - India" on June 20, 2017.

2) Many mutual funds deviate from the stated investment strategy or stated benchmark. If we look at the profitability of mutual funds for 2016 that invest in gold, we will see that they all showed negative profitability. Only some of them showed minus 5%, but others showed as much as minus 15%. The price of gold in rubles over the same period decreased by slightly more than 9%.

3) High costs, I would say even very high management costs.

The average amount of expenses that a shareholder will incur for managing the fund (taking into account the expenses of the depositary and others) varies on average from 2% to 4.5%.

Moreover, the rule that costs in funds that passively follow any index are much lower than in funds whose assets are in active management doesn't work for us. So total amount The annual costs of some passive funds investing in the MICEX index are given below:

4) A bank deposit implies that the depositor will receive at least some income over time (unless, of course, any force majeure occurs with the bank). Yes, this income may be insignificant and will not always cover inflation, but in nominal terms it is always a plus.

The value of a share may not only not grow over time, and accordingly the shareholder’s profitability may not increase, but the value of the share may also fall and fall even further. High management costs, as well as discounts and surcharges for the redemption and acquisition of shares will ensure that the shareholder receives minimal (and possibly no income at all).

5) Unlike bank deposits individuals Mutual fund units are not insured in any way by a deposit insurance agency. The shareholder does not have any insurance.

P.s. You also need to remember that the profitability shown by a mutual fund previously does not in any way guarantee the same profitability (or any profitability at all in the future). Specialists offering shares of a particular fund, as a rule, appeal to the profitability of this fund, which the fund received earlier.

So based on the results of 2014 better profitability showed mutual funds investing in shares foreign companies and gold. The devaluation of the ruble had a strong impact on profitability. The profitability of some of these funds in 2014 reached 80-100%. In 2015, these funds showed a more modest return of around 10-20%. And the leaders in 2015 in terms of profitability were mutual funds investing in Eurobonds with a yield of 50-70%. True, at the end of 2016, these funds showed negative returns, and the leaders in profitability for 2016 were already funds investing in the Russian electric power industry with returns ranging from 76-153%. I think you understand that they are unlikely to show similar profitability at the end of 2017.

I am not against Russian mutual funds. In moderation, they help to diversify a portfolio, but before you start purchasing shares of a particular fund, you should be aware of the disadvantages inherent in our mutual funds.

I hope this information will be useful to you.

If the topic of mutual funds in the Russian Federation is of interest to anyone on this resource, please write in the comments.

This is my first post on the site and, according to established tradition, please give me some positives))) True, I don’t know why I need them.

Happy investing!

Imagine what impression an interlocutor will make on a person who, talking about himself, will say: “ I make money by investing in securities" I think most people will look at him as an alien.

Movies and the media have created the impression that all people who make money from stocks and bonds are very serious and successful, have a lot of money and are almost geniuses. If you don't believe me, just turn on the RBK channel. From analysts talking about stocks, indices, etc. It just reeks of professionalism.

But, in fact, anyone can make money on securities and you don’t need to spend half your life studying the laws of the stock market. To do this, you can hire a professional manager who will buy stocks and bonds for you and try to provide you with maximum income.

In order for anyone to try to make money on securities with the help of a manager, starting with a minimum amount (you can find funds with a share value of 300-500 rubles), mutual funds (Mutual Investment Funds) were created.

What is a mutual fund?

UIF (Unit Investment Fund) is a type of investment in trust management. This is a collective investment pool where an investor buys a share of the fund's assets.

The fund is created by a management company that has the appropriate license. Investors invest money in the fund and the management company uses their funds to buy assets (stocks, bonds, etc.)

How can this be explained in simple terms?

Let's assume there are 3 investors: Sasha, Petya and Vasya. They have money to invest, but do not have the time, experience or knowledge to invest their money in stocks, bonds and other assets on their own.

To do this, they hire a management company that will buy and sell assets in order to make a profit. For this, investors will pay management fees.

Let's say Sasha has 500,000 rubles, Petya has 100,000 rubles, and Vasya has 10,000 rubles, a total of 610,000 rubles. They pool their money and create a fund. After investing, they receive shares in proportion to their investments, which certify their share in the fund. If we assume that a share costs 1,000 rubles, then Sasha will receive 500 shares, Petya 100 shares, and Vasya 10 shares, for a total of 610.

Using invested funds, the management company buys assets, for example, shares Russian companies. Now let’s assume that after some time the value of the purchased shares increased, which means that the fund’s assets also increased, for example, to 800,000 rubles.

After the shares rise in price, the share will no longer cost 1,000 rubles, but 800,000 / 610 = 1,311 rubles. This means that if Petya decides to leave the fund, he will receive 1,311 * 100 = 131,100 rubles. And he invested 100,000 rubles, which means his profit will be 31,100 rubles or 31.1%.

Types of mutual funds

Mutual funds are divided into bond, stock, real estate and mixed funds.

• Bond fund.

The profitability of such funds in the short term is not high, but for long-term investment they often show higher returns than equity mutual funds.

From the name it is clear that in this case the money is invested in bonds. The yield of these funds is comparable to bank deposits. But compared to banks, mutual funds have one advantage. If you withdraw a deposit from a bank before the end of the investment period, you lose most of the profits. You can withdraw money from the fund at any time without losing interest.

Investing in bond funds entails the lowest risks but also provides low returns.

• Equity Fund.

Investors who want to get higher returns from investing their money most often choose this type of fund. Equity mutual funds invest in shares of companies. They buy stocks that they think are about to rise in price and sell stocks that have reached their peak value.

In general, the stock market itself is the most risky, therefore the main property of these mutual funds, along with high potential profitability, is high risk.

• Mixed Fund (MUF) mixed investments).

To ensure maximum profitability and minimum risks, mixed mutual funds use the principle of diversification. They invest in a wide variety of assets. These could be stocks, bonds, real estate, works of art, etc. They can even invest in other mutual funds.

• Venture funds.

These mutual funds place bets on the riskiest stocks. With this type of investment, about 2/3 of the fund’s funds simply burn out. And only 1/3 is profitable. But the profit is such that it more than covers all losses.

• Real estate funds.

As the name implies, these mutual funds invest money in real estate. This can be the construction of objects from scratch and subsequent sale or rental. It can also be the purchase of real estate and its subsequent development (repair, redevelopment, etc.) for the purpose of sale or rental.

A special feature of this type of fund is that real estate mutual funds are closed. That is, investors invest money one time and will not be able to withdraw funds before the investment period ends. Money is usually invested for 3-5 years.

Organizational division of funds:

• Open mutual funds. A special feature of this type of fund is that investors can buy or sell shares at any time. The transaction is completed within 1-3 business days. Suitable for owners of medium capital.
• Interval mutual funds. You can buy and sell shares only at certain time intervals, which are also called windows. Such windows are usually opened once a quarter or once every six months.
• Closed mutual funds. Such funds are suitable for long-term investments. An example of such a fund is a real estate mutual fund. Units are purchased one-time and cannot be sold until the end of the investment period.

Advantages and disadvantages.

Pros:

• Convenient amount for investment. Those who want to start investing in the stock market with minimum amounts, can find mutual funds with a minimum share price of 300-500 rubles. Wealthy people can invest amounts amounting to millions.
• Fast withdrawal of money. Investors can withdraw funds from mutual funds within 1-3 business days.
• There are no losses due to unplanned withdrawal. Unlike banks, when withdrawing money from open mutual funds, you do not lose accumulated interest.
• High profitability. Mixed mutual funds and equity funds can provide high returns of over 50% per annum.
• Professionalism of managers. In large funds, managers are professionals the highest level. After all, in order to ensure income for its clients, the management company is forced to hire only the best specialists.
• State control over mutual funds. The activities of mutual investment funds are controlled by the state, so fraud on the part of the managing company is excluded.
• Tax agent. All taxes that an investor must pay when receiving money from investing in mutual funds are paid by the management company for him. That is, a person will not need to file a tax return; the company will do it for him.

Minuses.

• Risks. This type of investment entails risks. The value of a share may decrease due to poor management of funds.
• The difficulty of choosing a mutual fund. It will be difficult for a beginner to choose a mutual fund for investment that is most likely to bring him profit.
• Commission to the manager. The company will charge you a commission for its work managing your funds. The commission size ranges from 0.5% to 5%.

Who is suitable for investing in mutual funds?

Let's think about what kind of person is suitable for investing in mutual funds?

• No loans and no money problems. If a person has financial problems, then you should not invest money in funds. And even more so, you should not take out loans in order to invest.
• There is free money. You should always keep in mind one of the rules of investing: “ Don't invest an amount you can't afford to lose».
• Other investment methods are used. You should not invest your entire portfolio in mutual funds. It is recommended to invest in mutual funds no more than 40% of your portfolio.
• Control over emotions. Whatever happens, your actions should be guided by reason, not emotions. You need to weigh every step and not act impulsively.
• Interest in the stock market. You must love what you do. This is the only way you can increase your professionalism and your income from this activity.

Real profitability of mutual funds.

If you think that all managers are motivated to show maximum profitability, then you are mistaken. Most managers' goal is simply to beat the index against which their fund's performance is compared. If a mutual fund invests in shares of Russian companies, then the results are compared with the RTS index. This is one of the reasons for the low profitability of investing in mutual funds.

The average yield of bond mutual funds is usually around 8-12% per annum. The yield of the most successful funds exceeds 50% per annum. But you can see that many mutual funds bring losses to their clients.

How to choose a mutual fund?

Risk.

You need to understand that the higher the potential return of the fund, the higher your risks will be. So decide how much risk you are willing to take.

Term.

If you may need money in the near future, then it is better to choose open funds. If you decide to do long-term investment, then first of all look at the reliability of the mutual fund and its profitability.

Profitability.

By law, funds cannot promise you a profit. All you can do is look at the fund's performance over previous periods and compare it with other similar mutual funds. But keep in mind that one year cannot be considered as a reliable indicator.

Sum.

If you are a beginner and decide to start with small amount, then look for such funds with a minimum cost of one share.

Today the largest and most reliable mutual investment funds are: Sberbank, Raiffeisen, Alfa and Uralsib.

How does the investment procedure work?

In order to buy a share in one of the funds, you need to come to the office of the management company or agent company and submit an application. To complete the application, you will need a passport and money to purchase a share. If you plan to pay for the purchase of a share non-cash, then you will only need a passport.

If you decide to invest in a mutual fund of Sberbank or another bank, then you will need to come to any branch of this bank to purchase a share.

It is recommended that you familiarize yourself in advance with the documentation and terms of investing in the mutual fund of this management company on its website. Do not hesitate to call this company and ask a consultant any questions you may have.

Don't forget that investment income is taxed at 13%.

Mutual funds are an excellent alternative to direct investment in the stock market - they allow you to earn about the same amount, but all the work of managing capital falls on the shoulders of professional managers. It is clear that their results will be better than those of a novice investor; fortunately, they have more tools for forming a more balanced portfolio.

Formally, a share is a reflection of the totality of all assets managed by the fund, but in itself it is a security. And it should be purchased according to certain rules. Below are tips on how to properly invest in mutual funds.

Diversify your investments

It may seem that due to the large number of issuers, the fund's assets are quite well diversified. However, this is not quite true. The fact is that each mutual fund follows a specific strategy. For example, the VTB Mutual Fund - Consumer Sector Fund is based on shares of companies focused on retail consumers (mainly retailers), and the Sberbank Financial Sector Mutual Fund relies on shares of the largest banks and the Moscow Exchange.

Where there is one industry, there are always risks. For example, in 2015, retailer shares fell sharply in price due to a decrease in profits, and with them the profitability of the corresponding mutual funds. The same fate befell funds holding shares in oil and energy companies.

You should not purchase shares of exclusively super-profitable mutual funds - it is quite possible that the increase in value was provoked economic factors, and not through competent management and sufficient diversification. Likewise, currency mutual funds are not a panacea. If the ruble strengthens, then the fund shares will grow in foreign currency, but become cheaper in rubles.

The ideal option is to create a diversified portfolio of shares of 7-10 mutual funds of various directions.

• 5 mutual funds that follow a conservative strategy (with a low level of risk), for example, bond or Eurobond mutual funds;
• 3 mutual funds with an average level of risk, for example, mutual investment funds, precious metals, real estate or balanced (stocks and bonds in equal proportions);
• 2 Mutual Funds with high yield - Share Mutual Funds.

As a result, it will be possible to assemble a portfolio that grows or does not lose value under various economic disturbances.

During a crisis, the basis of the portfolio should be mutual funds with a small but guaranteed return - for example, bond funds or mixed funds (where stocks and bonds are 50/50).

In this case, you will definitely receive income and will not end the year with a minus. If good prospects open up in the market, then, on the contrary, you should take risks and buy shares of high-yield mutual funds.

An excellent example of a fund suitable for investing in a crisis - Ilya Muromets from Sberbank

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Hedge risks

The advice follows directly from the previous one. Strive to ensure that within one portfolio you cover as many industries and different financial instruments. For example, you can insure against the weakening of the ruble by purchasing shares of mutual funds issued in another currency.

You can escape from instability in the stock market by buying securities of mutual funds that invest in gold or real estate - during crises, these assets do not fall in price as much (or even rise in price as the most reliable assets).

For additional guarantee, purchase units of mutual funds that will grow against each other.

Then, if one position weakens, the other will grow in any case. For example, it has been noticed that mutual funds of precious metals and funds investing in US securities are growing against each other.

The past is not an indicator

Remember that past performance does not guarantee similar returns in the future. Moreover, a boom is often followed by a bust, and if an industry has grown this year, a correction may be expected next year. The only exception is, perhaps, bond mutual funds - they invest in low-risk assets with virtually guaranteed returns.

Net asset value is not an indicator for assessing the profitability and reliability of a mutual fund. The NAV only expresses the hopes of investors and reflects the number of funds at the disposal of the fund. If people trust a mutual fund and buy its shares, the NAV grows.

Studying past performance is not the most reliable criterion for choosing a fund

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Reporting and ratios are important

The fund's profitability should not be determined only from charts. This is nothing more than advertising. You should analyze a mutual fund more deeply, especially if you want to invest large amounts of money in it. What parameters can be used to evaluate:

• Composition of assets. Think about whether they will increase in price in the near future, whether there are many “junk” or overvalued assets in the instruments, whether there will be an adjustment for exchange rate differences.
• Report for last year. Reflects not only the dynamics of the value of the share, but also the portfolio. Helps to understand in which direction the fund is moving: an increase in assets or a decrease in them, whether there is a bias in favor of some issuers.
• Odds. The most important ones are Alpha - shows the efficiency of the manager, Beta, demonstrating the relationship between the profitability of the mutual fund and the state of the market, Sortino, which allows you to assess profitability / risk. You can calculate this data yourself or take it from ready-made reports.
• The personality of the manager and the composition of the team. Experience, the number of funds managed by the team, and work efficiency are important here.

Of course, you don’t have to bother and buy shares of those funds that show stable growth year after year, or are significantly ahead of the benchmark. However, for an informed decision, it is recommended to better study the selected mutual fund.

Have money in reserve

This is important in order to be able to buy additional shares when they become cheaper.

Many novice investors make a key mistake: they buy securities from the most income funds, when they are quite expensive, and when the value of the share falls, they sell it. You need to do the opposite: buy at the minimum, and sell after reaching the target level.

Therefore, experienced shareholders always have a certain amount of money in reserve, and if shares become cheaper, they do not dump them, but buy more. As a result, when the value of the share increases, the income covers any possible drawdowns.

The main rule of the investor

The advice is as old as time, but few people follow it. A share is the same security as a stock and a bond. If you buy shares at their peak value, the investor may suffer temporary losses as a result. It’s better to wait until the price drops and buy more “pieces of mutual fund” with the same money.

Everyone determines the time of sale for themselves, but it is best to carry out the operation at the peak of value. Everything is correct: in the case of mutual funds, the law “Buy cheaper, sell more expensive” applies.

The main rule of the investor - show up at the bottom, sell at the top - works with mutual funds too

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Do not buy shares of “fashionable” mutual funds

Management companies like to show only a good picture, and therefore actively promote the most profitable funds. But a good year can give way to a bad one, so the composition of assets and reporting should be analyzed.

Be wary of purchasing shares of aggressively promoted young mutual funds that do not have a positive history of profitability. Management companies often advertise them in order to quickly increase a sufficient volume of NAV.

Approach “fashionable” mutual funds pragmatically: if for a year the fund has not been able to achieve a yield of 5-10% per annum, then perhaps all the talk about a future “take-off” is worthless?

Hold shares for at least 3 years

This is important for several reasons:

• Firstly, during this time any fund, even a high-risk one, will show positive dynamics.
• Secondly, many funds do not charge a commission when redeeming a long-term share.
• Thirdly, you will be able to receive a tax deduction.

Its size is set as the product of 3 million rubles by the number of whole years when the share was held by the owner. For example, if you owned shares for 5 years, you will be able to claim a deduction in the amount of 15 million rubles.

For an average investor investing tens or even hundreds of thousands of rubles, such deductions are enough to avoid paying taxes at all.

Otherwise, when you redeem your share, you will have to pay tax - 13% of the profit if you live in Russia, and 30% if you do not tax resident our country. Profit is calculated as the value of the redeemed share minus the costs of its acquisition (purchase price + commissions).

Long-term ownership of fund shares will bring you additional income in the form of tax savings

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Please note that the application for tax benefits is submitted to the management company, and not the Federal Tax Service (according to rbc.ru)

Since 2014, any investor who has held shares in the fund for three years or more is entitled to tax benefits With investment income(according to bcs-express.ru)

Reduce costs

The advice is a continuation of the previous paragraph. For the purchase and redemption of shares you will have to pay a premium - a commission and a discount, respectively. You should carefully study the terms of investing in the fund and look for an opportunity to save on it.

For example, companies sometimes charge lower fees for larger investments. Others offer reduced commissions when purchasing shares online. For example, VTB, it reduces the premium by 1% when purchasing securities via the Internet.

Most management companies reduce the discount when redeeming a share after 3 or 5 years of ownership. Many, like Sberbank, allow through given period sell shares for free.

Other ways to reduce costs:

• Do not redeem shares, but exchange them for others (within one management company this can be done for free), with a lower commission for redemption;
• Sell ​​shares cheaper than you bought them to create a loss, and use it to get tax deduction at a profit;
• Transfer funds to an account opened with the same bank to avoid paying for interbank transfers.

How exactly to reduce costs depends on the fund and the management company. If we're talking about O a large sum, even 1% is significant.

Maintain discipline - tactics and strategy

No matter what tactics and strategy you follow, follow it to the end. For example, if you set yourself the goal of increasing the amount of savings in mutual funds, then start with a small amount and systematically purchase shares (of course, when they become cheaper).

Try to form a portfolio that is balanced and protected from all risks within the framework of one management company.

Decide in advance on goals and deadlines. Your actions should be dedicated specifically to them. It is not recommended to deviate from the plan. Investing is a long-term marathon, and the winner is the patient and economical, not the fast and speculative.

How to choose a mutual fund in simple words:

And finally...

Well, in conclusion, this is not advice or a rule, but rather a recommendation. Something interesting always appears in the world of mutual funds. Learn and try new things! Study the legislation to be able to reduce tax base, fix the rules for buying and selling shares so as not to overpay commissions. Some brokers allow you to buy shares of “their” management companies on an individual investment account and open up interesting options with tax preferences.

Don't limit yourself to just open mutual funds. If you have serious capital, it is recommended to invest in a closed-end or interval fund - the interest is higher, the risk is more moderate, but there are also limitations.

As an alternative to mutual funds, you can try ETFs - these are exchange-traded funds that purchase not assets, but a specific index or group of indices. They work exactly like mutual funds. Perhaps, to diversify your portfolio, you can also include them in your list of acquisitions.

5 minutes to read. Published 11/19/2019

Investing in mutual funds (UIFs) is gaining significant popularity. The main leaders were bond funds, which stood out for their higher returns relative to bank deposits. Is it worth investing in such structures in 2019 and what you need to know before making a decision? This is discussed below in the article.

What are mutual funds?

A mutual fund is a fund that, with the help of a certain company, manages trust property formed from the finances of investors. That is, each shareholder owns his own part of the property, which consists of shares.

Mutual funds are formed to generate income on the company's fund assets with subsequent distribution of profits among investors. The company itself charges its own percentage for the work of managing investors’ finances.

Is it profitable to invest in mutual funds in 2019: expert opinions

According to many independent financial experts, in 2017, the bulk of shareholders invested in bond type funds. Thus, according to the Central Bank of the Russian Federation, 74 billion rubles were attracted to this segment. As for other types, the investment dynamics there was, on the contrary, negative.

Most often, debt securities are more profitable than ordinary bank deposits. In addition, they stand out for their higher stability of quotes. Accordingly, it is not surprising why an increasing number of citizens are seeking to invest in funds instead of standard deposits. Also, over the past 12 months, according to objective data and information from a number of experts, the rate on deposits in many Russian banks has fallen by more than 1%.

According to the Central Bank of the Russian Federation, in December 2017 the average annual rate for deposits for individual users varied in the range of 7.33%. Despite the fall interest rate, the volume of deposits of the population in financial institutions is about 25 trillion. rubles and there is no downward trend in this indicator yet. Consequently, only a small part of depositors are looking for an alternative to today’s deposits . Of course, their departure slows down growth bank deposits, however, does not affect the reduction rate.

“Mutual Funds have been leaders in attracting finance over the past few years, and at the beginning of 2019 this trend is only becoming stronger,”

– notes Raiffeisen Capital representative Konstantin Kirpichev.

“The main reason for the great demand for them is the active influx of investors from classic deposits to funds. In addition, they demonstrate stable dynamics and at the same time show higher profitability compared to bank deposits,”

the expert notes.

The influx of investment will continue

In 2017, industry equity funds were among the leaders. However, according to many financial analysts surveyed, this fact is unlikely to “spur” a sharp influx of investors’ money into such structures. Most likely, bond funds will take the leading position.

“In 2019, bond funds will most likely remain in the lead,”

- says Vasily Illarionov, head of the Sberbank department.

“If this year the Central Bank allows you to buy shares of your own mutual funds on your own account, then we can: provide the client with an independent choice of mutual funds; provide the investor with a diversified financial plan With full list funds. Thanks to this, the structure of the tributaries will become multidirectional, and will also be able to display an objective relationship between goals and financial indicators activities. In addition, the real risk profile of investors will be clearly visible,”

- he notes.

“Our funds are in leading positions in terms of the volume of funds raised in 2018-2019. So, the cost of the main asset for Last year increased almost 5 times. There are only a few reasons for attracting such volumes of funds: due to low rates regarding deposits, citizens do not want to invest their money in banks, and therefore are forced to look for alternative sources of financing; the bond market offers profitable terms for shareholders",

– says Evgeniy Zhornist, head of Alfa Capital.

“We also expect that the financial and credit policy of the Central Bank of the Russian Federation will be reduced to approximately 6.5% from the current 7.33% per annum, and as for bond mutual funds, for our shareholders, we plan to earn 10–11% per annum,”

What are the risks?

Many people invest in mutual funds because they know that this is, without exaggeration, the simplest and safest financial source without any pitfalls. On the other hand, mutual funds have certain risks.

The point is that the assets of mutual funds are placed in special depositories. They protect the money of shareholders and at the same time monitor the investment actions of the management company. That is, depositories are necessary for the management company to comply current legislation, and also worked in the interests of investors. Accordingly, in some cases this may prevent the company from managing its assets as efficiently as possible.

The main risk is that there is no 100% guarantee that the chosen mutual fund will bring income to the shareholder . This can happen due to the fact that the company does not effectively manage funds, the value of shares or bonds has fallen, and other factors affecting assets have affected. Consequently, the shareholder’s profit depends not only on the correctly selected company, but also on the type of mutual fund itself.

Investing your own Money into mutual investment funds - this is an excellent alternative to classic bank deposits. In addition, mutual funds are completely transparent and do not require good knowledge financial market or any action. On the other hand, any investment always involves risks, and therefore, in order to minimize them, it is very important for an investor to take a responsible approach not only to the choice of a management company, but also to the type of mutual fund.