Asset Management in Russia

2024:10 largest management companies in Russia by the amount of funds raised

As of the end of September 2024, the rating of the largest management companies in Russia in terms of the amount of funds raised is headed by VIM Investments with an indicator of about 145 billion rubles. This is stated in the materials of Investfunds, with which TAdviser got acquainted in mid-October 2024.

The rating is calculated on the basis of data provided by management companies of mutual funds (mutual funds) or on the basis of data publicly disclosed on the official websites of the management company. In the published list Criminal Code "First" , approximately 141.4 billion rubles are in second place with the amount of funds raised. Closes the top three "" with Alpha Capital an indicator of 100 billion rubles. In general, ten companies in the ranking jointly attracted about 463.72 billion rubles in the three quarters of 2024. The list is as follows:

The Bank of Russia notes that the value of assets under the management of the management company in the second quarter of 2024 increased by 1.4 billion rubles (or 6.4%) quarterly, amounting to 23.5 trillion rubles. Almost all the growth was ensured by an increase in the value of net assets of mutual funds - due to the rapid net inflow of funds from shareholders and the positive profitability of funds. The growth in revenue for the provision of services and commission income (plus 24% year-on-year), which accounts for the bulk of the management company's revenue, contributed to the growth of the management company's net profit in the first half of 2024 by 1.3% - to 23 billion rubles. At the same time, profit growth was limited by the high rate of increase in the costs of the management company: personnel costs rose by 21% over the year, general and administrative expenses and direct operating expenses - by about a third.^[1]

2023: Growth in the value of assets under the management of the Criminal Code in Russia by 40.7% and up to 20.9 trillion rubles

At the end of 2023, the value of assets under the control of management companies (MC) in Russia reached 20.9 trillion rubles. This is 40.7% more than in the previous year, when the final result was approximately 14.9 trillion rubles. Such data were published by the Bank of Russia on March 7, 2024.

The published report says that by the end of 2023, the bulk of the increase was ensured by an increase in the value of net assets (NAV) of mutual investment funds (UIFs) - due to a record inflow of shareholders' funds and positive returns on funds. A significant amount of funds was provided by closed mutual funds, the shareholders of which are wealthy investors - individuals.

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CBR

The popularity of mutual funds among the population in Russia in 2023 increased, despite an increase in deposit rates, which could put pressure on the dynamics of the receipt of funds into funds. The inflow of citizens' money into mutual funds is associated with a change in the structure of demand in favor of real estate funds, attractive during a period of increased market volatility, and money market funds, the profitability of which may be at the level or even higher than deposit rates. At the end of 2023, the average yield of ruble money market funds that have existed since the beginning of the year amounted to 9.6%, which is higher than the weighted average interest rate on deposits of individuals with a period of up to 1 year opened in January 2023 (5.3%).

The study also says that the remuneration of the management company in 2023 increased by 37.1% compared to the previous year, reaching 95.9 billion rubles. At the same time, net profit rose by 44.1% - to 55.6 billion rubles. The trading and investment income of the management company decreased by 1.6% year-on-year, while costs increased: personnel costs rose by a quarter, general and administrative expenses - by 12.5%.^[2]

Overview of Key Performance Indicators of Management Companies

Notes