To make the weighed and reasonable decisions on purchase or sale of shares, it is necessary to acquire necessary knowledge and skills, and also some experience in stock market. Often one people have on it no time, simply it is not interesting to another to be engaged in the analysis of stock market, the third, understanding that investments in an action are connected with high risk level, want for the investments more "smooth water".
For such investors investment into mutual investment funds, in abbreviated form – mutual funds will be the best option. Such funds are as in Russia, and abroad, only there they are called as Mutual funds – mutual funds.
So, what such share fund? Roughly speaking is a portfolio of the actions which are traded on stock market, picked up in a certain proportion by management company. Function of management company consists in accumulating money of investors, to enclose them in profitable tools (actions, bonds), and also to correct their shares in structure of fund depending on the current market situation. The fund is divided equally into conventional units (shares), and, investing money in fund (buying shares), the investor takes not a separate share, but part of the general equity stake of which the fund consists. It considerably reduces risk of investment since corresponds to the rule of diversification (distribution) of means on different types of assets. Besides, the investor himself does not take part in management of fund, it is done by management company. This one more advantage of fund – it is not necessary to be the specialist in management of assets in stock market, for you the professional operates. Of course, management company (further – UK) a beret remuneration for the services, i.e. upon each purchase of shares it is necessary to pay the investor in addition the commission, but about it below.
What mutual funds happen
Mutual funds are classified by several signs: on risk level, on by the form securities which are got on fund, on degree of freedom of investors and so on.
On structure of securities mutual funds happen the following types:
- Mutual funds of actions.
Mutual funds of actions, as appears from the name, consist of stocks of the companies (open joint stock companies). Shares are acquired by management company on the money placed in fund by shareholders. When the price of the actions entering into mutual fund grows (by results of the auction at the exchanges), also the price of shares of mutual fund grows. When the price of actions falls, also shares become cheaper. A task of management company to take shares which have to grow in price, and sell shares which have to fall in price. From that, how successfully UK guesses (counts)? what shares to sell and what to buy, profitability of mutual fund depends. Mutual funds of actions - the most risky type of mutual funds. Profitability varies from negative to the high positive.
- Mutual funds of bonds.
Mutual funds of bonds - the least risky investments, though they can be unprofitable, simply the probability of a loss is very low. The obligatory satellite of low risk - low profitability. Profitability in mutual funds of bonds approximately same, as at bank deposits, 8-12%. Mutual funds of bonds can be used as a shelter for the capital during falling of the market.
- The mixed mutual funds.
The mixed mutual funds (mutual funds of the mixed investments) are hybrids of mutual funds of actions and mutual funds of bonds, i.e. they consist of both types of securities. Such funds have the most flexible strategy: they can consist for 100% from actions during growth of the market and by 100% of bonds during falling of the market. During the uncertainty periods in the market when it is not clear where the market will move tomorrow, such funds - the best option for capital investments.
Also mutual funds differ on freedom of the shareholder to choose time for purchase and sale of shares:
- Open mutual funds.
If mutual fund open, it is possible to buy, exchange and repay shares in any working day.
- Interval mutual funds.
Shares of interval mutual fund can be bought, exchanged and extinguished only in the certain fixed periods several times a year (as a rule, for two weeks four times a year).
- The closed mutual funds.
The closed mutual funds invest means in such assets which cannot be sold partially to extinguish shares of one or several shareholders, and it is only possible to sell all property of mutual fund and to extinguish all shares.
Besides, funds happen branch (on money of fund shares of the companies of any one branch are acquired, for example, oil or metallurgical), index (the structure of the shares acquired on money of fund copies structure of actions of an index of MICEX or RTS therefore such fund grows or decreases according to an index).
How to choose fund
Each investor putting the savings in share funds has to understand that mutual funds are "running on a long distance"; in other words – funds give notable profit only at long terms of investment – of 5 years and more. Therefore means which can be necessary for you through shorter period, it is better to enclose in other assets, but about it later.
At first we need to choose management company. It is easy to find ratings of UK in the Internet, for example, to the address: pif .investfunds.ru/funds/rate_management.phtml. There the companies are ranged on SChA volume (in other words – to the size of funds), number of mutual funds in management, profitability indicators. However, high rates in the past do not guarantee the same high rates in the future.
At this stage reliability of the company is necessary for the investor first of all. Therefore it is necessary to check that UK worked at the market not less than 5 years, the more long the better.
Further it is necessary to compare the sizes of the fees charged by management companies. Naturally, than the commission is lower, especially the management company is attractive. It is quite good also that the company was the tax agent, that is when receiving profit at the moment of sale of shares of fund itself held income tax, exempting the investor from tax procedures (filling of the declaration, transfer of means in tax etc.).
Taking into account the considered indicators, the author considers the most reliable and convenient for work Alfa-Capital management companies (www.alfacapital.ru/individual/pifs/) and "by VTB the Capital – management of assets" (www.vtbcapital-am.ru/), but this his personal opinion.
After decided on management company, we start a choice of fund. Here a lot of things depend on the investor – his ability to understand the market and its separate segments, tendencies to risk etc. If the investor has the purpose receiving the maximum profit, it is better to choose a fond of stocks. But at the same time it is necessary to understand that the possible profit and risk – the things interconnected and directly proportional that is the is higher potential profit, the possibility of loss of means at an adverse situation in the market and vice versa is higher. The investors more interested in safety of the savings than in receiving profit can recommend mutual funds of bonds, they are much stabler than fonds of stocks, but also average profitability is significantly lower there. If the investor well understands one of industries (oil and gas, metallurgical), the branch funds specializing on stocks of the companies of a certain branch can interest him.
So, decided on a type of fund, now we watch date of creation of fund. It is important that the fund existed not less than 3 years that it was possible to track its historical profitability. Historical profitability is the most important criterion at a choice of fund! That to estimate it, it is necessary to compare profitability of fund to an index of MICEX or RTS. It is possible to make it, for example, on the site pif.investfunds.ru/, the convenient interactive schedule on the main page there. The fund is attractive if its historical profitability for the last 3 years is higher than profitability of an index. The index is the statistics characterizing the general condition of the market. Securities of the largest companies bargaining at the exchange are a part of an index. If the fund shows profitability below market, it is more expedient to invest in index fund which structure repeats composition of the papers entering an index of MICEX. Such fund has the profitability equal to profitability of an index.
Having chosen management company and mutual fund, it is possible to start directly investment. For this purpose it is necessary to contact management company through the site or by phone. If you decided to deal with the "VTB Capital Management of Assets" company, to it is rather simple to be to the closest branch of the bank of VTB24 and to sign the contract with management company. Further it is necessary to transfer simply funds into the account in UK, in other words – to buy shares of fund. To sell shares, it is necessary to come again to office of UK and to submit the application for sale of shares. Operations on purchase or sale of shares are carried out within 2-3 days from the moment of application.
And finally – some recommendations from Mirsovetov about investment into share funds.
Do not make all intended for investment of investments in one fund. It is excess risk without which it is possible to do, after all the cost of separate fund can both grow, and to fall, and it is essential. Pick up to yourself 2-3 funds with stable and high profitability and buy shares of all of three. That who considers himself ready to risk and is going to get shares of fonds of stocks, it is best of all to make secure, having included shares of funds of bonds or the mixed funds in an investment portfolio. In case of an adverse situation in the market it will make falling not such notable.
About strategy. Mirsovetov considers strategy of "mechanical investment" as the stablest and advantageous. It consists in investing the identical sums at regular intervals (for example, once a month or quarterly). And it is necessary to do it regardless of that, shares grow in the price or fall. Sense of strategy in the following. Let's say you bring 5000 rubles every month. If purchase is made when the price of shares fell, for this sum you buy bigger quantity of shares, and if the price of shares high – that smaller. That is it is bought more at low price, it is less – on high. The statistics shows that such approach is most justified at long terms of investment.
If you could not decide on fund, it is best of all to invest in index fund, that is that fund, which structure (so, and indicators) corresponds to an index of MICEX or RTS. It was told about such funds above. Plus this fund that it should not be operated (to make decisions on change of structure of actions), and it is necessary to watch only that the equity stake of fund corresponded to the equity stake, entering an index. And if there is no need for active management, and the commission the lowest there. Besides – the statistics shows that 70% of actively operated funds lose to an index of MICEX on profitability on the long periods.
And finally – remember: the price of funds can both grow, and to fall! Therefore never invest all available money, determine at first the sum of means for investments. Only reasonable approach to investment can provide future welfare.
Successful to you investments!