The essential part of the trading on the stock exchange Russian is bought and in the subsequent does not sell shares. Strategy “Buy and Hold” Central Bank called the main for private investors in its November “Risk review of financial markets.”
Private investors became the largest buyer in the Russian stock market – from April to September, the share of the population in total net purchases (buying minus sales) exceeded 85 percent. Such dynamics shows that the demand for Russian shares on the part of retail investors is growing. The regulator notes that Russian citizens became dominant power in the market and can have a significant impact on its dynamics.
Approximately 18 percent of investors buying shares, over the past year and a half no purchased purchased securities at all. 60 percent of the trading on the stock exchange was sold less than 35 percent of the portfolio. The average deduction period of securities sold by such investors is about 220 trading days.
In October, the purchase of shares by citizens reached a record since the beginning of 2021, exceeding the April figure of 80 billion rubles. In this case, the share of shares in the structure of savings of Russians is only 12 percent – it is lower than the level of most countries of the world. In Mexico, the share of shares in the savings of individuals exceeds 40 percent, and in the United States and Sweden it is above 35 percent. The regulator believes that the population can continue to increase the stock portfolio and increase its share in its savings. Including Russians can redeem paper, now belonging to foreign investors who form the main volume of sales of Russian shares. At the same time, non-residents still own almost the third capitalization of the Russian stock market.
The risks of the financial stability of the stock markets of the Central Bank, carried a high proportion of unskilled investors. Their behavior in the formation of a trend on a decrease in stock quotations may be more volatile and difficult to be projected, considers the regulator. The Central Bank seeks to reduce the risks, limiting access to complex products with unqualified investors and increasing their awareness.
In early November, Russian brokers said that, according to the results of the test of the Central Bank, the knowledge of investors on some exchange issues were low. The most difficult for investors were tests for admission to foreign promotions and shares outside the quotation lists – the most popular investment instruments. Best investors coped with tests for the knowledge of the most complex and unpopular tools. This result is due to the fact that experienced customers are interested in more complex products.