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Russians Deposit RUB 7bln in Individual Investment Accounts

02.03.2016 16:02 / TASS

In 2015, private individuals deposited some RUB 7bln in Individual Investment Accounts (IIAs), with 55 thousand new clients applying for IIA opening through licensed participants and asset management companies, reports National Stock Market Participants Association (NAUFOR).

An average IIA was worth RUB 260k by the year-end, RUB 160k for trust IIA account. These accounts amounted to a total of RUB 6bln and RUB 1bln, respectively.

The overall amount of cash received by brokers and asset managers totalled RUB 420bln.

The retail investor portfolio is dominated by Russian shares (32%), money market (19%) and Eurobonds (18%). Russian corporate bonds have a 2.3% share in the portfolio structure, investment fund shares amount for 0.6%.

From 1 January 2015, private individuals can open an Individual Investment Account with a broker or asset management company. IIAs are subject to investment tax benefits. Maximum IIA deposit is RUB 400k per annum. The money can be invested in stock market instruments, such as shares, sovereign and corporate bonds, including Eurobonds, stock exchange funds and share investment funds.

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