In the first five months of 2020, the assets of open-end and exchange traded funds have grown up by 15% and exceeded RUR 550 bln ($7.8 bln), Alfa Capital management company reports. The segment of exchange traded funds shows the biggest flows: their cumulative assets grew by 67% and reached RUR 28.4 bln ($403 mio).
Alfa Capital is among the three largest players at open-end and exchange traded funds. As of the end of May, aggregate assets managed by the company reached RUR 5.9 bln.
“Over the past few months, we have been witnessing a growth in the funds deposited on people’s accounts. The inflows surpass what investors took in March; this is why this period is unique. The clients were very calm and there have been much less emotions than during the previous crises,” Alfa Capital General Director Irina Krivosheyeva said. She believes that this behavior again proves that the Russian asset management industry is becoming more mature, while private investors are gaining experience and are prepared for local market fluctuations.