Banks - to investors
Analysts call will be put in financial sector
the next three years by the most safe branches for investments bank, financial and insurance. Such conclusion contains in research of an investment climate in Russia, spent by institute Chartered Financial Analyst (CFA). Other branches are too subject to political risk.
institute CFA research estimates expectation of growth of capitalisation of various sectors of the Russian economy among professional participants of the market. It has been spent from October, 30th till November, 9th, 2006 among 750 persons who have already received diploma CFA, and candidates on competition of this diploma.
poll has shown growth of optimistic moods among participants of the market. 79 % of respondents as a whole have positively estimated current events in the financial market, in economy and in the government of Russia whereas in 2005 only 64 % interrogated estimated a developing situation as optimistical. In comparison with 2005 the number of the analysts, inclined to estimate the general readiness of citizens for investment as positive, has grown on 22 percentage points - to 48 %, and as very positive - about 1 % to 3 %.
Thus 54 % of respondents consider political risk as a major factor constraining the investments into Russia. Intraeconomic risk of Russia, as well as terrorist as a deterrent 2 % interrogated named only, and with corporate governance in the Russian companies 6 % of respondents are dissatisfied only. The first vice-president of bank committee of the State Duma Pavel Medvedev considers that the political risk really takes place. “ but it is necessary to understand correctly about what there is a speech. Now practice pravoprimenenija becomes tougher, especially it is appreciable on an example with arrest of officials from FFOMS, - Pavel Medvedev speaks, - Fight against corruption is a political order of the president. Therefore, if to any of the companies which are present in stock market as the emitter, corresponding measures in connection with corruption of its heads are applied, some of professional participants of the market can really interpret it as the political order “.
However there are sectors, the most safe even from the point of view of political risk. According to interrogated CFA analysts, the companies of bank, financial and insurance sector will be the least brave and most favourable investment the next three years: 56 % interrogated consider that capitalisation of the companies from these sectors will grow the highest rates.
according to the president of association “ Russia “ Anatoly Aksakov, capitalisation of bank sector already now grows quickly enough. The president of the All-Russia union of insurers Alexander Koval considers that for capitalisation growth in insurance sector there are objective bases: “ We access to WTO, it obliges the Russian companies to increase the capitalisation. Besides, in July, 2007 a number of decisions of the Ministry of Finance and Rosstrahnadzora which will raise requirements to the insurance companies on the size of an authorised capital stock and actives " will come into force;.