In the second quarter of 2024, the value of assets held by management companies increased to ₽23.5 trillion. This growth was largely driven by inflows into unit investment funds (UIFs) and their positive returns.
Closed-end UIFs accounted for most of the inflows. However, open-end UIFs reported the maximum growth acceleration as the net inflow of funds into them soared 16 times over the quarter, which was largely fueled by equity funds. Investors purchased units in anticipation of high returns as the equity market was up at the beginning of the quarter and companies announced dividend payments.
The growth of exchange-traded UIFs was attributable to money market funds. The strategies of such funds involve short-term investment of clients’ funds in money market instruments, most often reverse repos. Such transactions help receive returns close to the key rate.
Retail closed-end UIFs were also popular among investors. They focus on investments in commercial real estate, including warehouse facilities. The net inflows into such funds doubled compared with the previous quarter.
More details are available in the Review of Key Indicators of Management Companies for Q2 2024.