Brokers should offer primarily shares of Russian companies - Shvetsov

Brokers should offer primarily shares of Russian companies - Shvetsov First Deputy Chairman of the Bank of Russia Sergei Shvetsov believes that brokers should offer their clients, first of all, shares of Russian companies, not foreign ones. Suggests NAUFOR in its basic standards to consolidate "correct" sequence of offering financial instruments.

"Speaking of foreign shares, we see today a fairly large demand from individuals for foreign shares - both of Russian origin and purely foreign shares. To my regret, a little more is invested in foreign stocks than in Russian stocks in terms of the inflow of new funds, but about 50% to 50%. It is very important that investment houses, brokers that offer their clients various financial instruments, in general, offer primarily Russian shares", - he said at an online conference NAUFOR "Securities market: current state and development".

"Because it is important for Russian money to work in Russia. Yes, as an element of diversification, perhaps foreign shares have a right to exist in the portfolios of our investors, but nevertheless, macroeconomically, it is much more important for us that this money works for the Russian economy.", - he explained his point of view.

"Russian stocks look attractive today, and it is certainly wrong to push them to the last positions in their recommendations. It seems to me that NAUFOR here could influence, through standards, how financial instruments are offered and whether they are offered in the correct sequence", - he added.