The Central Bank, together with the trade community, should develop measures to encourage citizens to choose trust management and collective investment - First Deputy Chairman

The Central Bank, together with the trade community, should develop measures to encourage citizens to choose trust management and collective investment - First Deputy Chairman First Deputy Chairman of the Central Bank of the Russian Federation Sergey Shvetsov believes that the Bank of Russia, together with the professional community, should take marketing measures that would encourage citizens to invest in the stock market through trust management or collective investments.

"The first imbalance is how citizens invest. Analyzing international experience, the experience of developed markets, we, of course, see that the overwhelming number of investments goes through collective investment schemes, through trust management, and 5-10% is the maximum that citizens actively invest themselves. What do we see in Russia? In Russia, two-thirds are invested independently, one third goes through collective investment and trust management instruments", - he said at an online conference NAUFOR "Securities market: current state and development".

"It seems to me that we need to seriously think about why this happened, and the industry, the regulator to take certain marketing measures that push our citizens, who, to be honest, are not very versed in financial instruments, do not have a lot of accumulated, albeit negative, experience of working with financial instruments , nudge in favor of trust, collective investment", - added Shvetsov.

He also noted that in parallel, it is necessary to develop the institution of fiduciary responsibility of trustees.. "At the pension fund level, we have introduced elements of fiduciary responsibility for the best buy in the market. But maintaining a portfolio is an equally important component, taking into account what a citizen needs. All these elements must, of course, be developed, and we will work on this.", - he said.

"It is very important that a citizen comes to the Russian stock market for a long time. The goals should be sustainable development goals, we should not compromise in order to obtain short-term profits through the arrival of investors, the long-term presence of the investor in the market. (...) Therefore, the components of investment literacy, the components of pushing towards the use of financial consultants, trustees in collective investments are the basis of the strategy that we will implement in the coming years", - said the first deputy chairman of the Bank of Russia.

According to the Central Bank of the Russian Federation, the value of client assets in brokerage services at the end of the third quarter of 2020 was 12.7 trillion rubles, in the sphere of trustees - 1.4 trillion rubles. In terms of the number of clients, there is also a disproportion between these industries: brokers have 7.6 million accounts open, and there are 480 thousand clients of management companies..