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  • Ñïðàâêà î ãðóïïå ÃÔÒ
  • Ðóêîâîäñòâî ãðóïïû ÃÔÒ
  • Îôèöèàëüíàÿ èíôîðìàöèÿ
  • Ñîòðóäíè÷åñòâî
  • Ìû â ÑÌÈ
  • Íîâîñòè
  • Íàø âçãëÿä íà ðûíîê
  • Âàêàíñèè
  • Êîíòàêòû




GFT-Group / Î íàñ / Íîâîñòè êîìïàíèè / Íîâîñòè / Íîâîñòè

Èíâåñòîðû çàìåäëèëè áåã. Âûâîä ñðåäñòâ ñ ðîññèéñêîãî ðûíêà ñîêðàòèëñÿ â øåñòü ðàç.

Ïî äàííûì Emerging Portfolio Fund Research (EPFR), çà ïîñëåäíþþ íåäåëþ èç ôîíäîâ, èíâåñòèðóþùèõ â ðàçâèâàþùèåñÿ ðûíêè, êëèåíòû âûâåëè $3,32 ìëðä. Íå ñòàëè èñêëþ÷åíèåì è ôîíäû, èíâåñòèðóþùèå â Ðîññèþ: îíè ïîòåðÿëè áîëåå $73 ìëí, ÷òî ñóùåñòâåííî ìåíüøå, ÷åì íåäåëåé ðàíåå. Âïðî÷åì, íåñìîòðÿ íà ñíèæåíèå îáúåìîâ âûâîäèìûõ èç Ðîññèè ñðåäñòâ, ðîññèéñêèå ôîíäîâûå èíäåêñû îêàçàëèñü â àóòñàéäåðàõ íà òåêóùåé íåäåëå.

Äàííûå EPFR ñâèäåòåëüñòâóþò î òîì, ÷òî èíâåñòîðû ïðîäîëæàþò âûâîä ñðåäñòâ ñ ðàçâèâàþùèõñÿ ðûíêîâ. Çà íåäåëþ, çàêîí÷èâøóþñÿ 5 îêòÿáðÿ, ôîíäû, èíâåñòèöèîííàÿ ïîëèòèêà êîòîðûõ îðèåíòèðîâàíà íà ðàçâèâàþùèåñÿ ðûíêè, ïîòåðÿëè $3,32 ìëðä, ÷òî íà ÷åòâåðòü áîëüøå ïîòåðü, ïîíåñåííûõ íåäåëåé ðàíåå ($2,65 ìëðä). Êàê îòìå÷àåò àíàëèòèê Àëüôà-áàíêà Àíãåëèêà Ãåíêåëü, ñðåäñòâà âûâîäèëèñü èç ôîíäîâ GEM, BRIC, ïðàêòè÷åñêè èç âñåõ ãðóïï ðåãèîíàëüíûõ è ñòðàíîâûõ ôîíäîâ.

Ôîíäû, èíâåñòèöèîííàÿ äåêëàðàöèÿ êîòîðûõ îðèåíòèðîâàíà íà Ðîññèþ è ñòðàíû ÑÍÃ, íå ñòàëè èñêëþ÷åíèåì èç îáùåé òåíäåíöèè, õîòÿ òåìïû âûâîäà ñðåäñòâ ñîêðàòèëèñü. Ïî äàííûì EPFR, çà ïðîøåäøóþ íåäåëþ èç ýòèõ ôîíäîâ áûëî âûâåäåíî $73 ìëí, ÷òî â øåñòü ðàç ìåíüøå ïîêàçàòåëÿ, çàôèêñèðîâàííîãî íåäåëåé ðàíåå ($443 ìëí).  îòëè÷èå îò òåíäåíöèé ïîñëåäíèõ íåäåëü, îñíîâíàÿ ÷àñòü ïîãàøåíèé íà ýòîé íåäåëå ïðèøëàñü íà òðàäèöèîííûå ôîíäû, èç êîòîðûõ âûâåëè $45 ìëí, èëè 61% ñóììàðíîãî ïîêàçàòåëÿ, òîãäà êàê îòòîê èç ETF-ôîíäîâ ñîñòàâèë $28 ìëí, óêàçûâàþò àíàëèòèêè «Óðàëñèáà».

Óâåðåííûé âûâîä ñðåäñòâ ñ ðîññèéñêîãî ðûíêà ïðîäîëæàåòñÿ 13-þ íåäåëþ ïîäðÿä. Ñòîëü ïðîäîëæèòåëüíî çàïàäíûå èíâåñòîðû íå âûâîäèëè ñðåäñòâà íè ðàçó çà âñþ èñòîðèþ íàáëþäåíèé. Îäíàêî áûëî äâà ïåðèîäà, êîãäà èíîñòðàííûå èíâåñòîðû íà ïðîòÿæåíèè 11 íåäåëü âûâîäèëè ñðåäñòâà èç Ðîññèè — îíè ïðèøëèñü íà êðèçèñíûé 2008 ãîä. Ïåðâûé ðàç ýòî ïðîèçîøëî ëåòîì 2008 ãîäà, êîãäà íåðåçèäåíòû áîëåçíåííî îòðåàãèðîâàëè íà îáåùàíèå ðîññèéñêîãî ïðåìüåð-ìèíèñòðà Âëàäèìèðà Ïóòèíà «ïðèñëàòü äîêòîðà» âëàäåëüöó «Ìå÷åëà» Èãîðþ Çþçèíó. Îòðèöàòåëüíûõ ýìîöèé èì äîáàâèëè è áîåâûå äåéñòâèÿ â Þæíîé Îñåòèè è Àáõàçèè. ×åðåç ïîëòîðà ìåñÿöà êàðòèíà ïîâòîðèëàñü. Òîãäà ïîñëå êàòàñòðîôè÷åñêîãî îáâàëà ôîíäîâûõ ðûíêîâ èíâåñòîðû âûâîäèëè èç ôîíäîâ îñòàâøèåñÿ ñðåäñòâà.

Ïðè ýòîì ïî èíòåíñèâíîñòè òåêóùèé âûâîä çíà÷èòåëüíî ïðåâûøàåò ïðåäûäóùèå äâà ñëó÷àÿ: åñëè ëåòîì 2008 ãîäà èíâåñòîðû âûâåëè $918 ìëí, à çèìîé îòòîêè ñíèçèëèñü äî $384 ìëí, òî â ñåé÷àñ êëèåíòû ôîíäîâ âûâåëè áîëåå $3 ìëðä. Ïî ñëîâàì äèðåêòîðà Simargl Capital Äìèòðèÿ Ñàäîâîãî, àãðåññèâíûé âûâîä ñðåäñòâ ñïðîâîöèðîâàí íå ìåíåå àãðåññèâíûì ïðèòîêîì ñðåäñòâ â ôîíäû äî ýòîãî. Ïî äàííûì EPFR, ñ ñåíòÿáðÿ ïðîøëîãî ãîäà ïî ìàé òåêóùåãî ãîäà êëèåíòû ïðèíåñëè â ôîíäû áîëåå $5,7 ìëðä, ïðè÷åì íà ýòîò ãîä ïðèøëîñü $4,5 ìëðä. «Â òî âðåìÿ êàê ôîíäû, îðèåíòèðîâàííûå íà Ðîññèþ, ïîëó÷àëè ñðåäñòâà, ôîíäû äðóãèõ ñòðàí â îñíîâíîì òåðÿëè, ïîýòîìó ñåé÷àñ íàøè ôîíäû äîãîíÿþò îñòàëüíûå»,— îòìå÷àåò ãîñïîäèí Ñàäîâûé.

Âïðî÷åì, òîò ôàêò, ÷òî ê êîíöó íåäåëè ñèòóàöèÿ ñòàëà ñïîêîéíåå, íå íàøåë îòðàæåíèÿ â äàííûõ EPFR. «Äàííûå EPFR îòðàæàþò ñèòóàöèþ íà ðûíêå, êîòîðàÿ íàáëþäàëàñü â ïîíåäåëüíèê—ñðåäó ýòîé íåäåëè, êîãäà ðîññèéñêèé ðûíîê èñïûòàë îäíî èç ñèëüíåéøèõ ïàäåíèé,— îòìåòèë Äìèòðèé Ñàäîâûé.— Ïîýòîìó äàæå ïîòåïëåíèå, êîòîðîå ïðîèñõîäèëî â êîíöå ïðîøëîé íåäåëè, íå ñìîãëî ïîâëèÿòü íà èòîãîâûé ðåçóëüòàò». Íåñìîòðÿ íà ñîêðàòèâøèéñÿ îáúåì âûâîäèìûõ ñðåäñòâ ñî ñòîðîíû çàïàäíûõ èíâåñòîðîâ è ðàçâîðîò, ïðîèñøåäøèé ê êîíöó íåäåëè, ðîññèéñêèé ðûíîê àêöèé îêàçàëñÿ â ÷èñëå àóòñàéäåðîâ ñðåäè ðàçâèòûõ è ðàçâèâàþùèõñÿ ðûíêîâ. Ñ íà÷àëà íåäåëè èíäåêñ ÐÒÑ ñíèçèëñÿ íà 3%, äî 1289,93 ïóíêòà, ïðè ýòîì â òå÷åíèå íåäåëè îí îïóñêàëñÿ äî 1200 ïóíêòîâ — ìèíèìàëüíîãî çíà÷åíèÿ ñ ñåíòÿáðÿ 2009 ãîäà. Èíäåêñ ÌÌÂÁ ïîòåðÿë ïî÷òè 2,3%, îïóñòèâøèñü ê îòìåòêå 1331,22 ïóíêòà.  ýòî æå âðåìÿ âåäóùèå àçèàòñêèå èíäåêñû ñíèçèëèñü íà 0,6–1%. Ïðè ýòîì åâðîïåéñêèå âûðîñëè â ïðåäåëàõ 2,5%, àìåðèêàíñêèå — íà 1–3%.

Âîçâðàò ê ñïèñêó