Russian Investor Statistics - No Summer Lull this August
Moscow Exchange has published retail investor statistics for August. Somewhat surprisingly, there was no seasonal deceleration in retail investor activity. Retail investors bought R28 bln ($380 mln) worth of Russian stocks.> Inflows into local funds continued as well. R22 bln went into all funds, and of that amount, we estimate that R14 bln ($190 mln) went into Russian stocks. Given that there were no share placements in August, we can assume that the $570 mln inflow from local investors was matched by a similar outflow from foreign funds.> The brokerage market remained quite active in August. More than 600k unique accounts were opened during the month, bringing the total number of retail investors on the Moscow Exchange to 13.8 mln.Stock-level data suggests that retail investors were buying Gazprom, Nornickel and Lukoil and selling Sber commons and prefs (apparently to foreigners). Gazprom's share in the portfolio of top 10 stocks reached a record of more than 25%.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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