Market complain that foreign ETFs will be in a more advantageous what functions does the en dash perform in the text? position than Russian mutual funds. How justified are these claims? Or is this caused by fears of tough competition from the more developed Western industry?
We have managed to minimize
the differences between Russian mutual funds and foreign ETFs. This concerns the requirements for the composition and structure of ETF assets, as well as the rules on mandatory monthly disclosure of the key investment document on admitted ETFs. Therefore, we believe that the arrival of foreign funds will stimulate competition and the emergence of new financial products on the Russian collective investment market, and will not lead to an influx of investors into ETFs.
Noted that today on the Russian
market there is a separate segment of mutual funds focused different formats are used exclusively on investments in ETF securities. In the asset structure of 28 such funds, ETFs make up more than 95%. The share of these mutual funds from the total assets of all exchange-traded funds is 18%. The remuneration of the management companies ao lists of such exchange-traded funds is 0.15-1.2% of the value of their assets. At the same time, investors indirectly pay the costs of managing the ETFs included in the said mutual funds – 0.03-0.75% of the ETF assets.