Investments - investments of finance in a certain project, pursuing the goal of making a profit. Economics views investment as a process that reflects changes in value. talking plain language, investment is such a saving of money in reserve for the future, which allows you to make a profit after some time. Investing in securities deserves special attention as one of the most promising and accepted in the world economic community. Allocate individual, collective investment in the securities market. In the first case, a person buys assets in the primary, secondary market, over-the-counter or on the stock exchange. Collective investment involves the purchase of shares, shares of relevant funds, companies.

Impact on society

To our days, the economy has already accumulated a large stock of knowledge on investing in all its aspects. On the example of investors of the past and present, it can be said with confidence that collective investment has many significant advantages. First of all - the benefit for the population of the country where the economy is developing in this direction. The reason is that collective investment in Russia attracts capital investments from various sources, which stabilizes the economy and provokes its development.

With the growth of investment, the volume of taxes collected increases, which positively affects social programs, budget companies financed by the government of the country. This leads to higher demand for government-issued securities, but lowers the cost of borrowing. Separately taken citizens receive tools to increase incomes and new ways to save existing funds.

Investments and economy

Investment needs can be met in various ways. Their diversity allows protecting the interests of investors and stabilizing the economy, which gives rise to confidence in it on the part of private individuals. Collective investment has the most positive impact on financial position in the country, at the same time, it intensifies competition between different structures that want to receive money from the population for further work on the stock exchanges.

The development of investment in the future should provoke an increase in the shares of enterprises that attract the most impressive funds. True, on this moment experts agree that the collective investment in Russia they are not well developed, so the money cannot work with full efficiency. Efficiency can be increased if the economic and social situation in the country is improved, which will provoke growth financial market.

What does it take to be successful?

Analysts and financiers agree that in our country the collective investment market will begin to grow rapidly when corporate papers finally cease to be subject to double taxation. Another aspect is not a large enough choice of objects in which you can invest money. To improve the situation, the state must take measures to expand the securities market.

The country also lacks laws governing collective investment. It must be regulations, reflecting the real state of affairs in the securities market, that is, corresponding to the requirements of the exchange players. Collective investment needs unification, additional mechanisms for protecting the interests of investors and their rights. Development is possible if there are mechanisms that increase reliability.

Not all at once

However, even if all of the above is put in place, collective investment institutions will need some time for real development. Management companies should become professionals who can perfectly cope with the situation on stock market they must learn to navigate the ever-changing environment.

The introduction of new legislation will allow, after some time, to achieve:

• impressive proceeds from funds placed in profitable assets;
• control over the activities of investment funds;
• competition for investors and their funds between different firms, as well as between banks involved in this system.

Key Benefits

Collective forms of investment have long been tested at the world level and have shown themselves to be a profitable method of doing business when a potential investor has small funds, but is ready to invest them in some business that potentially looks profitable. At the same time, such a person gets access to the advantages inherent in large structures: banks, funds, insurers.

Collective forms of investment involve asset management by professionals. This is the first and most significant advantage of this way of making money work. If the funds of numerous participants are controlled centrally by highly qualified specialists certified to work in financial sector with many years of experience, there is no doubt that the risks will be minimized, and the profit will be the highest possible.

Important factors: timing and clarity

Modern collective investment institutions are rated as the most expensive human resource time. This means that investors, if they trust a special company to manage their resources, expect efficiency, but save their time. Turning to funds allows you to avoid studying the market situation and mastering the mechanisms by which you can make money on the stock exchange. It is believed that this is an important advantage of collective investment, since management specialists all their own working time spend it on monitoring the situation and correcting it in the right direction.

Transparency, in turn, implies accountability in detail. In this regard, collective investment funds are much more understandable than any banking structure in which you can make a deposit. Every day, a specialized firm announces what the net asset price is. Controlling state authorities receive reports on the value of securities, on the qualitative composition of the stock portfolio. Experts agree that collective investment institutions today are the most transparent tool available to investors.

Features and risks

Regardless of what types of collective investment are interested in a potential investor, he can count on the fact that Management Company will open the Prospectus for him. For an investment fund, this is the main document reflecting the company's strategy in the stock market. This helps to assess risks and predict returns on investments.

At the same time, you need to understand that there will always be risks - it will not be possible to find such a management company through which a completely safe investment of money will be available. But collective investment securities are protected by the diversification method, when a portfolio includes a variety of securities. If some lose in price, profits can be made at the expense of others who jumped in value.

The correct formation of such a portfolio for a private investor is a difficult task, as it requires large financial injections. With regard to collective investment, management companies have funds received from numerous individuals, and in total a very large amount of money is obtained. Consequently, such a firm acquires bills, deposits and bonds, shares in various sources. As the saying goes, don't put all your eggs in one basket. The concept of collective investment is just the distribution of the notorious eggs into several baskets.

Benefits and Savings

Collective investments assume that numerous investments are summed up, due to which the portfolio grows quite large. Consequently, the management company gets access to large-scale operations in the stock market. This gives you access to more great deals. You can compare this with the retail and wholesale sale of goods: the larger the purchase, the more profitable terms the buyer receives. An investment fund, operating with a large amount, can buy shares by investing less money in each individual than a small investor. Operating costs are reduced, that is, the company's benefit increases, which affects the profits of all participants who have invested in the organization.

An additional cost-cutting benefit associated with collective investment is access to preferential tax rates. Until the investor receives a payout, all income is not taxed. Operations within the company are reinvested, but there are no taxes on this, as there is no profit taxation. But here if private investor he himself makes transactions on the stock exchange, he will have to pay tax on all intermediate profits received from bonds, shares, dividends, interest.

Collective investment: construction

Over the past few years, this particular direction of investment has become the most popular in the country, but it is most actively developing in Russia in Moscow and St. Petersburg. Many Russian investors realized that such an investment is profitable, but safe. Collective investments are represented by investment construction holdings and some other forms.

Through organizations, private investors invest their money in residential and commercial real estate. A good profit shows the placement of money in offices, hotels. Companies that organize investors select an object that promises good returns with minimal risk evaluating the requirements of fund participants. The holding deals with legal and technical aspects of cooperation.

Offers aimed at investors with little resources have become attractive. To take part in the project, you can have free funds in the amount of one hundred thousand rubles or more. This means that a growing number of individuals can become investors in construction these days.

Object selection

If it was decided to take part in collective investments, it is necessary to responsibly choose a property worthy of trust. At the same time, you have to choose between commercial and residential areas. They evaluate the profitability and costs, based on the indicators, they draw conclusions which option is more acceptable and attractive.

AT last years square meters used for commercial purposes, the price exceeds residential by 15-25%. On the other hand, such territory can be leased at a more favorable rate. Collective investments in commercial real estate are regarded by many analysts as the preferred option.

Crowdinvesting

Crowdinvesting is such a variant of joint investment, when a lot of investors with insignificant funds are attracted to implement the planned project. But the profit from the completed object will be divided among the participants in proportions corresponding to who invested how much in the idea.

Financial experts say that it is this form that has the best prospects today. Much of this is due to convenience. In Russia, crowdinvesting is still in its infancy, there are no laws regulating this area. It has not yet been possible to launch such a platform for crowdinvesting, which would show good results. However, the dynamics of the development of the financial market is such that we should expect the emergence of opportunities in the near future.

On the example of the capital

The capital is the largest city in Russia, leading the way in many areas. Joint investment in construction is no exception. However, even here, as experts say, this area is still developing, so there are not very many really working projects. But Moscow investors are interested in collective investments.

It is especially clear from the participants of the local construction market that the largest mass is those who do not have sufficient funds to buy real estate, but want to make a profit by investing in a certain object together with others on equal terms. Many of our contemporaries, having certain assets, want to distribute them over several projects in order to protect themselves from the crisis and inflation. Finally, although there are few of them, there are people who have enough money to buy some real estate, but are in no hurry to conclude a deal. Instead, they give money to professionals, hoping to multiply the amount after a few years.

Opportunities and realities

Collective investments are not necessarily managed by professionals. If we consider the construction sector, then it is possible to evaluate the purchase of real estate by relatives and friends as a joint investment. As a rule, this is done in order to sell in the future areas for more favorable price. Sometimes unfamiliar people cooperate in this way, united by the desire to make a profit. Usually such people conclude agreements so that joint work goes without conflicts. There are also closed mutual funds that work with collective investments in real estate.

If we consider collective investments in real estate in St. Petersburg, we can conclude that although in many respects the city is advanced for Russia, nevertheless, this area is still poorly developed, especially in the context of new buildings. A larger percentage of transactions involving several people is the joint work of relatives and friends, but this does not happen often. Collective investments like mutual funds and similar structures are just beginning to attract public attention. But in Moscow, things are somewhat better with this.

Is it worth the risk?

Having a certain amount of cash, a person always thinks about how to make money work. Collective investments can come to the rescue, but a lot depends on both the place of residence and the area of ​​interest. As already mentioned, the construction area is considered the most promising so far, but it is still developing. However, if you manage to choose a good management company, you can be sure that the money will be directed to a fairly safe project that will bring profit.

First, determine the purpose of the investment. There is no investment in nature for the sake of the investment process itself. The goals may be different. For example, to save money from inflation, save up for a big purchase in three years, take a risk and try to earn as much as possible in a year, etc.

The goal is better to voice, and even better - to write down. This simple trick will help answer the second important question Q: How do you feel about risk? Are you ready to lose, do you agree to a decrease in the value of your savings, or will it be difficult for you to accept the result if it differs from the “daily stable-growing” one. Based on the goals, it is worth choosing an investment tool: companies and funds.

Secondly, choose five management companies for yourself - diversification of investments by companies will help reduce risks. You should pay attention to the availability of a license, work experience, key performance indicators - such as the amount of funds under management, the number of funds, etc. Please note: Russian rating agencies we have already conducted an analysis of management companies for you, which will help to make right choice.

There are also specific features of the collective investment industry. As a rule, novice investors act when choosing a UK, by analogy with choosing a bank for placing personal savings. At first, this approach justifies itself, but then it becomes clear that management companies have a specialization. One company performs better in the stock market, another shows miracles of profitability in the bond market, there are companies that are most effective in the sectoral specialization of funds. Leave a couple of companies of different specializations in your short list.

Next, select funds. In the current environment, management companies offer a wide range of funds, among which you can definitely find one that meets your goals and suits the level of risk. It is logical that the companies on your list should be trusted to work where they are most effective. The work on the analysis of funds, as well as when choosing a management company, has already been done before you - look at the ratings on specialized sites, pay attention to additional analytics, read reviews, check the profitability for one and three years.

And finally, personal experience is the basis of any investment. I assure you, apart from your own experience, no one will tell you the best solution. Start with a small amount to see how it works.

Last but not least than everything else. Pay attention to the service of the management company. In a world where you can order nails from Hong Kong from the comfort of your couch, the investment process should be just as easy and convenient. For me, as a consumer, one of the important factors will be “convenient / inconvenient”. At any time, I want to receive information about my investments and do whatever I see fit with them, from anywhere in the world.

Conducting collective investment has recently become an increasingly popular practice. There are many reasons for the creation and development of such an institution, and the main one is the following: most private investors do not have the funds to invest in expensive profitable assets and conduct sufficient diversification. And collective investments, and even under the control of competent managers, in any form become an excellent solution to the problem.

The essence of the phenomenon

Economists call collective investment such a scheme, when the money of several investors is collected in a single pool and transferred to trust management. And already the fund manager invests them in real estate, stocks, gold and other assets, depending on the established program.

How collective investments are made

Collective investment institutions imply the presence of certain features:

• Such funds have a low entry threshold - literally from 1000 rubles, this allows you to attract the widest possible range of clients;
• Certain risks, investors themselves are responsible for all the choice of the institution and share them with the manager (in this they are similar to crowdfunding);
• The capital transferred to the fund is combined on a single account and depersonalized;
• The collective investment scheme does not provide for a fixed remuneration, as, for example, with a deposit or in microcredit organizations, and the profitability depends solely on the successful actions of the manager;
• The user has an idea where his money is invested, and can choose the investment scheme that suits him (for example, in securities or the real estate market), but he cannot influence the choice of assets for buying and selling.

Distinctive features of the form of collective investment from other types of financial institutions and funds are:

• Funds for the fund are raised through the sale of securities (shares or shares) or through the conclusion of individual agreements;
• The main form of the fund's activity is making a profit by investing in certain assets in various markets;
• The income received is distributed among the participants in the form of dividends or other payments, or directed to increase the number of the fund's assets;
• The investor receives income through periodic deductions or through the sale of a stock that has risen in price.

A classic example of collective investment is a mutual fund.

A classic example of collective investment is any investment fund (as a rule, it places capital in the securities markets)

Advantages and disadvantages

The advantages of collective investment are determined by the specifics of this tool, they allow you to level the disadvantages of individual investment:

• The capital is under professional management, therefore, will be distributed more intelligently;
• A large volume allows full diversification and avoids dependence on the value of one asset or a group of similar assets;
• It is possible to invest in assets and markets that are expensive or inaccessible to an unqualified manager - real estate, high-value stocks, shares of foreign ETFs, cryptocurrency, etc.;
• Reducing associated costs - there is no need to pay a commission to a broker and other intermediaries every time when changing assets, it is enough to pay a commission once or buy a fund paper;
• Saving time - the fund manager is engaged in the redistribution of assets and making a profit, clients do not spend time analyzing operations;
• The probability of obtaining increased profitability - due to competent management and investment in high-yield assets that are inaccessible to a simple investor, it is possible to receive a profit much larger than with a single investment;
• Reliability and security - of course, such placements are not insured, however, non-trading risks, incl. fraud can be avoided: collective investment is protected at the state level.

Difference from crowdfunding

Collective investment is formally similar to crowdinvesting, and many economists even draw an equal sign between these two phenomena. In fact, they are very different, and when the question arises what to choose - collective investment or crowdfunding, it is better to prefer the first.

Crowdinvesting (and crowdfunding as its variety) involves massive investments in one project, usually entrepreneurial, it can even be related to real estate (which is rare). Mutual investment funds and other institutions of collective investment are engaged in work in various assets and seek diversification. With crowdfunding, the responsibility for the variety of contributions lies with the contributor.

Types and forms of investments

In accordance with the legislation, the main varieties of collective investment are determined, it turns out that there are quite a lot of them.

In special institutes and funds

credit unions. This type of collective investment fund is engaged in attracting money from the public and issuing secured loans to individuals and businessmen. To date, about 130 CCCs have been registered in Russia, the total amount of attracted assets is more than 30 billion rubles. The remuneration to shareholders is paid in the form of a fixed percentage, the amount of which, however, may change over time. Also, the owner of the share can sell it to another person or back to the fund at face value.

investment banks. Unlike retail banks, they do not provide loans to individuals and entrepreneurs, but are engaged in attracting and placing money in various instruments - real estate markets, debt securities, currency transactions and others. Investment banks in their pure form do not yet exist in Russia, in contrast to the United States, where this institution has been developing since the 1950s. Investment banks call themselves KIT Finance, BCS - Investment bank and a number of other formations.

Non-state pension funds. This market in Russia is in the stage of active formation. In total, there are 81 funds, the amount of money in them is more than 1,000 billion rubles. The goal of a contributor to the NPF is to form their own non-state pension. The activities of these funds are carefully controlled by the state and the Central Bank. The NPF can only invest in a limited number of assets with minimal risk - deposits, bonds and some stocks. Therefore, the profitability of NPFs in comparison with other forms of collective investment is low.

In the securities markets and real estate

PIF Institute. This is the most common and popular form of collective investment. A mutual fund is a fund that accumulates all capital and directs them to purchase certain instruments, for example, real estate market securities. The range of funds is quite wide, more than 1,400 mutual funds operate in Russia (according to the Central Bank), total cost net assets - 2430 billion rubles. Thanks to mutual funds, collective investment in real estate, foreign funds and shares, Russian and foreign bonds, gold, etc. is possible. Earnings are generated solely by the difference between the purchase and sale price of a share.

Joint Stock investment funds. They allow for a full-fledged collective investment in the securities market. In some ways, AIFs are similar to mutual funds, both types of funds work on the same principle, however, owners of AIF securities can count on dividends and other bonus payments. Besides, stock fund can invest only in securities, while the choice of investment objects for mutual funds is much wider.

Also, the peculiar forms of collective investment include:

• PAMM accounts in the forex market or binary options- according to the scheme, they are more reminiscent of placements in mutual funds, however, the profitability of PAMM accounts is higher, as are the risks of losing capital;
• Investment life insurance - directs funds to purchase conservative assets in order to prevent their significant loss, the scheme is similar to NPF activities and AIF;
• Placement in the IFC - similar to investments in the CPC, however, they have a higher return and the risk of losing savings.

PAMM accounts are one of the types of collective investment, when all investments are accumulated in single fund, and the profit is distributed depending on the size of the investment

Conclusion

Thus, collective investment is one of the schemes for investing funds, which provides for the formation of a single account and its transfer to the trust management of a professional, sometimes it is associated with crowdfunding. Such an investment has a whole series of advantages, in particular, it entails a reduction in risks and costs and increases the likelihood of making a profit above the market. In Russia, only 5 forms of collective investments are allowed, but there are tools that repeat these varieties in their form, for example, PAMM accounts.

1. The concept of collective investment, its features, distinctive features, advantages

Investments are cash, targeted bank deposits, shares, shares and other securities, technologies, machinery, equipment, licenses, including those for trademarks, loans, any other property or property rights, intellectual values ​​invested in objects of entrepreneurial and other types of activities in order to make a profit and achieve a positive social effect.

The subjects of investment activity are investors, customers, contractors, users of objects of investment activity, as well as suppliers, legal entities (banking, insurance and intermediary organizations, investment exchanges) and other participants in the investment process. The subjects of investment activity can be individuals and legal entities, including foreign ones, as well as states and international organizations.

The objects of investment activity in the Russian Federation are newly created and modernized fixed assets and working capital in all sectors and areas of the national economy of the Russian Federation, securities, targeted cash deposits, scientific and technical products, other property, as well as property rights and intellectual property rights . It is prohibited to invest in objects, the creation and use of which does not meet the requirements of environmental, sanitary and hygienic and other standards established by the legislation in force on the territory of the Russian Federation, or damages the rights and interests of citizens protected by law, legal entities and states.

Investment fund - a property complex owned by a joint-stock company or in common shared ownership of individuals and legal entities, the use and disposal of which is carried out by the management company solely in the interests of the shareholders of this joint-stock company or the founders of trust management.

Collective investment is an investment scheme in which the funds invested by small investors are accumulated in a single fund managed by a professional manager for their subsequent investment in order to make a profit (growth). Thus, collective investment involves the creation of some kind of "money bag" from the funds of small investors, which will then be invested in securities, real estate or some other assets.

in Russia to collective investors accepted to refer to:

Mutual investment funds;

Joint stock investment funds;

Non-state pension funds;

credit unions;

Other forms of collective investors.

The form of collective investment is characterized simultaneously by the following signs:

Raising funds by placing securities or concluding agreements;

Implementation as the main activity of investing attracted funds in securities and other property;

Receiving the main share of income in the form of dividends, interest and income from transactions made with this property;

Distribution of income received from investment between the participants of collective investment by paying them dividends, interest or other payments.

From the point of view of operational activities, collective investors have a number of characteristic distinguishing features:

Persons providing their cash financial intermediary (manager), they themselves bear the risks associated with investment;

The manager pools the funds of many persons, depersonalizing individual contributions in a single cash pool and thereby averaging the indicated risks for participants in the collective investment scheme;

Unlike some traditional forms of investment, collective investment schemes do not involve the promise of predetermined fixed payments;

An investor participating in collective investment schemes is aware of the directions for investing the collected funds and therefore has the opportunity to choose the investment scheme that best suits his investment preferences.

Advantages collective investors:

Professional management. Financial investment companies are more likely to have the necessary knowledge and skills than small investors;

Diversification. Small investors are unable to mitigate risk through diversification due to high transaction costs with a small number of shares;

Cost reduction. By managing a large number of small investments as one large portfolio, economies of scale can be achieved, from which the investor can benefit in the form of low management fees;

Reliability. Collective investors in almost all countries are subject to legislation and regulation aimed at protecting the interests of small investors.

2. Forms of collective investment in Russia

2.1 Mutual investment funds (UIFs)

The activities of mutual investment funds are regulated by the Federal Law of November 29, 2001 N 156-FZ "On Investment Funds".

Mutual investment fund - a separate property complex, consisting of property transferred to trust management of a management company by the founders of trust management with the condition of combining this property with the property of other founders of trust management, and from property received in the process of such management, the share in the ownership of which is certified security issued by the management company. PIF is not a legal entity.

A mutual fund must have a name (individual designation) that identifies it in relation to other mutual funds.

The property constituting the PIF is common property owners of investment shares and belongs to them on the basis of common share ownership. The owners of investment units bear the risk of losses associated with changes in the market value of the property constituting the unit investment fund.

The management company makes transactions with the property constituting the unit investment fund on its own behalf, indicating that it acts as a trustee. In the absence of an indication that the management company acts as a trustee, it shall personally be liable to third parties and be liable to them only with the property belonging to it.

The management company, if it is provided for by the rules of trust management of the unit investment fund, has the right to transfer its rights and obligations under the trust management agreement to another management company.

In the case of an open unit investment fund, the owner of investment units has the right on any working day to demand from the management company the redemption of all investment units belonging to him and thereby the termination of the contract of trust management of the unit investment fund between him and the management company or the redemption of part of his investment units; in the case of an interval PIF - within the period established by the rules of trust management of the PIF; and with a closed mutual fund, the owner of investment shares does not have the right to demand from the management company the termination of the mutual fund trust management agreement before its expiration, otherwise than in the cases provided for by the Federal Law “On Investment Funds”.

The term of the mutual fund trust management agreement shall not exceed 15 years.

Founders of trust management can transfer only monetary funds to trust management of open and interval mutual funds.

In trust management of a closed mutual fund, the founders of trust management may transfer funds, as well as, if it is provided for by the rules of trust management of this mutual fund, other property provided for by the investment declaration.

An investment share is a registered security certifying the share of its owner in the ownership of the property constituting the mutual fund, the right to demand from the management company proper trust management of the mutual fund, the right to receive monetary compensation upon termination of the trust management agreement with all owners of investment shares of this mutual fund (termination of the mutual fund ). Each investment share certifies the same share in the common ownership of the property constituting the unit investment fund and the same rights.

An investment share is not an equity security and has no par value. The number of investment units issued by management companies of open and interval mutual funds is not limited. The number of investment units issued by the management company of a closed-end mutual fund is indicated in the rules for trust management of this mutual fund.

The property constituting a mutual investment fund is separated from the property of the management company of this fund, the property of the owners of investment units, the property constituting other mutual funds held in trust management this management company, as well as other property held in trust or for other reasons by the specified management company. The property constituting a mutual investment fund is accounted for by the management company on a separate balance sheet, and independent accounting is maintained for it.

Foreclosure on the debts of the owners of investment units, including in the event of their insolvency (bankruptcy), on the property constituting the mutual investment fund is not allowed. For the debts of investment unit holders, the collection is levied on the investment units they own.

The rules for trust management of mutual funds must contain the following information:

Name and type of mutual fund (open, interval, closed);

Full company name of the management company, specialized depository, person maintaining the register of investment unit holders, auditor;

investment declaration;

The value of the property constituting the mutual fund;

The term for the formation of a mutual fund;

Rights and obligations of the management company;

Validity of the trust management agreement;

The procedure for submitting applications for the acquisition, redemption and exchange of investment shares;

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