Rus News Journal

Operations on management of actives

the First Russian bank diversifies financial risks

Operations on management of the actives, so habitual for the western banks, gradually enter into practice and the Russian commercial banks. Their first experiences in this area are rather curious. Yesterday the First Russian bank has offered the clients contracts about investitsionno - the depositary contribution, providing formation of the investment portfolio consisting of several groups of actives.

the Investment portfolio formed by the First Russian bank, at will of the customer can consist of following groups of actives: 10 kinds of foreign currencies, depositary certificates and bills of the bank, the state securities, including state credit obligations and gold certificates of the Ministry of Finance, the bill of Issue syndicate. Thus the minimum sum of investments is equal to 50 million rbl. Since this sum and to 500 million rbl. The client of bank has the right to change monthly structure of investments depending on a current conjuncture of the financial markets. At the same time, at the contract conclusion for a great sum the client of the First Russian bank can make changes to an investment portfolio every week. Both in that and in other case the income turns out from growth of market cost of those actives which have been chosen at portfolio drawing up.
new service of the First Russian bank allows to achieve a diversification of risks at investments in securities. Besides, the prospect of distribution of a part of actives in foreign currency for certain will seem interesting to those financial institutions (check and pension funds, the insurance companies) which cannot independently spend currency transactions.
an essential lack of the offered scheme is that the client is deprived possibility to change structure of the portfolio more often, than once a week (at the sum over 500 million rbl.) Or once a month (at the sum less than 500 million rbl.). The investor simply - naprosto cannot to react on sharp changes of market condition. Even at weekly revision of structure of investments of operation with groups of actives entering into it can appear untimely.

DMITRY - IVLIEV, IGOR - NITKIN