Managing Company of the Field Passive Investment Fund. PIFES (mutual investment funds). Useful video what is a blow

Per last timeby visiting the offices of several banks, faced with active promotion banking products called mutual investment funds or by a simple face. Employees very persistently offered to take advantage of the opportunity to invest in mutual effects and receive high yield. At times exceeding profit bank deposits, with their very modest percentage - in the region of 5-6 per annum.

The various numbers showed, the profitability charts and how many could earn, if I had invested the money year, 2 - 5 years ago. In fact, the data was impressed.

Tens of percent profit for the year or two.

And immediately there was a desire to trust his blood and participate in pursuit of profit.

FIFE FIP FOR 2017

An article for those who are planning, planned or has already invested in mutual funds.

Underwater stones and main lack of investing in mutual effects in Russia.

What is interesting to face

To begin with, we will analyze (remember) - what is? And how will it be useful for us with you?

PIF can be viewed as a common boiler for all investors. Money is going and they are purchased for various assets (stocks, bonds) in a certain proportion. Each depositor or shareholder has a certain proportion or para. In proportion to attached means.

Pluses of mutual:

• simplicity;
• availability;
• wide diversification.

If a simple words, to invest in mutual funds it is necessary to conclude an agreement with managing Company (CC) and make money. And that's it.

The cost of one share is only a few thousand rubles. Anyone can become the owner (or co-owner) of the Fund and receive the yield in proportion to the funds made.

By buying one Pai for 2-5 thousand rubles, you invest money in dozens or even hundreds of various companies. And not only in Russian, but around the world. Want to America, please. Germany, China, England or Japan. No problems.

It sounds tempting. Would you like to simultaneously invest in most countries with a developed economy - easy. True for this you need a little more money. But in a few tens of thousands you can easily meet.

You can certainly do all this on your own. Anyone can enter into an agreement with a broker and the companies of interest.

But for this you need a lot of money. So much money. Additionally, spending not one hour (or even a few days) of its time.

In Pifah, everyone will do for you. I bought PAI - got a package of shares you need. And nothing more do nothing.

Comparison of profitability

But let you do not encourage high yield. Markets are unstable. And today's profits are not guaranteed in the future. But we are not about it.

Currently, mutual imagines are considered one of the most popular investment instruments that makes it possible to minimize the risks of work on stock Exchange. Open Pass Investment Fund In most cases, in the degree of reliability is not inferior to bank deposits.

Investing in PIF gives depository the following advantages:

• risk of diverse fraudulent schemes minimized due to the transparency of the activities of the effects and the presence of control by state structures;
• capital investing in various financial assets, for example, stocks, bonds, real estate, etc.;
• nonprofessionals can work on stock market by attracting competent management companies;
• due to the simplicity, the open share investment fund is available to the wide sections of the population;
• the high level of liquidity of investments due to the possibility of outputting funds at any convenient time or after certain periods.

That is why private investors choose them as safe money To invest your savings.

Pyp or mutual investment funds are financial structureCreated to invest in various tools for revenue. In other words, the Foundation is a kind of union. money private investors. It creates a management company that uses money depositors to invest in a variety of projects. Instead of nested money, the investor acquires the right to Pai.

The following assets are most often used as financial instruments:

1. Stocks;
2. Deposits of banking institutions;
3. Bonds;
4. Deposit Certificates;
5. Commercial and residential real estate.

It should be noted that in most civilized countries, including in Russia, the activities of the funds are strictly controlled by the state. This approach is an effective way to protect rampants from a variety of fraudulent schemes. In addition, it guarantees the impossibility of activity on the principle financial pyramid. The securities of each FIF are in a special accounting. And the rights of the investor on a certain Pai takes into account the registrar.

How to work blues

Regarding few potential investors know how funds work. In most cases, their founder is the company for managing financial assets. She creates a PIF and at the same time reports the features of his activities, namely, in which the tools will be investing, the estimated level of profitability, how to acquire Pai, etc.

Based on published information, the depositor can choose the most suitable option for itself. He concludes a contract with the management company, invests a specified amount of money and in return receives the right to a certain Pai.

After the face accumulated the amount needed to start its activity, he starts work in accordance with the previously voiced principles. All financial funds of a financial nature, as a rule, is available to every interested person, regardless of its status in the Fund.

In any case, depositors have full access to relevant information.

In case of termination of the work of the FIF or exit a private investor, his Pai in cash equivalent is returned. It should be noted that the depositor has the right to exit from the fund only if such a condition is provided for by the agreement between the parties.

Classification of FIFES

Investors need to be aware of what funds exist and their distinctive features. This will give the opportunity to choose the best option for investing.

First of all, mutual impacts are classified depending on the liquidity of their assets:

1. Open intrinsicities, participation in which involves the opportunity to sell or buy a Pai at any time. These funds provide depositors very wide opportunities for maneuver and investing even small amounts;
2. Interval funds whose rules provide for the possibility of buying or selling a share only at certain periods of time. Most often, such a period lasts about two weeks and opens quarterly;
3. Closed funds, whose share cannot be redeemed until the cessation of the activities of the FIF. They work for quite a long time - from five to fifteen years, and are created to implement specific investment projects.

Depending on the direction of activity, the following types are distinguished:

1. Funds of shares, which in their work as a financial instrument use predominantly shares of various enterprises. A feature of such a pee is its high level of profitability compared to other funds. But at the same time, it is necessary to remember that the shares do not guarantee the receipt of income and the level of profitability is determined financial results a certain company;
2. Bond funds that respectively invest their funds in the purchase of bonds. This state of affairs provides less profitability, but the depositor is guaranteed stable income, the sum of which is stipulated in advance. These impassions are considered one of the most conservative financial instruments;
3. Index imparencies that invest in the purchase of assets of companies that occupy leading positions in the market. This case in the long run can bring significant benefits. The level of profitability is higher than that of the promotion, while the risks are significantly less;
4. FIves of the money market, which most of the funds invest in bank deposits. This is the most conservative type of funds that guarantees great reliability to their depositors, but at the same time minimum income;
5. Real estate funds investing invited capital in the construction of various types of real estate. In most cases, a closed face is created, which operates throughout the period necessary for the construction and implementation of real estate. The yield of such a fund is not too significant, but it is already traditionally attractive investment object for wealthy people;
6. Direct investment funds that are created to support certain areas of business. They specifically accumulate funds to run a new project. Cooperation with them is associated with a considerable share of risk. But if a commercial enterprise will be successful, its profitability will also significantly exceed the average level;
7. Mixed investment impact funds in different kinds Financial assets. The features of their work, as well as the level of risk and profitability depend on which financial instruments are dominated in their portfolio;
8. Fund funds, which are a structure that actively misses the shares of other mutiings. The task of the management company includes a choice better options For investment.

There are other types of funds, but russian market They did not get much spread.

The level of profitability of FIFES

The yield of mutually depends directly on which promotions, bonds and other financial assets management company will invest in their depositors. It is also necessary to take into account that profitability is in direct dependence on the level of risk.

The most reliable Open Passy Investment Fund guarantees no less profitability bank depositsAnd in some cases, even somewhat higher.

It is quite reliable funds whose activities implies a relatively small risk, bring profits to their depositors, which is twice the amount of income from the usual deposit. There are also so-called aggressive types of mutual effects, the work of which is associated with a significant risk. At the same time, the expected level of their profitability, as a rule, exceeds one hundred percent per annum.

But we should not forget that the FIF is still a risk financial instrument. Therefore, no management company can guarantee the depositor that investing will be successful, the funds will bring profit and Pai will be safely returned. Pyp features are that they can offer potential investors only approximate profitability, which is based on analytical forecasts and data over the past years.

Valuable paper certifying the share of its owner in the right of ownership of property, which makes up a mutual investment fund, the right to demand from the management company of proper trust management Pass Investment Fund, right to receive monetary compensation With the termination of the contract of trust management of the Pass Investment Fund with all the owners of the investment shares of this fund (termination of the Pass Investment Fund).

Investment Pai of the Open Faying Investment Fund certifies the right of the owner of this share to demand from the management company of the repayment of the investment share and payments in connection with this monetary compensation, commensurate the share in the right common property On property that makes up this fund, on any working day.

Investment Paj of the External External Fund certifies the right of the owner of this share on any working day to demand from the authorized person to buy an investment share at the price that commended the share on it in the right of common property on the property that makes this fund and the right to sell it on the stock exchange indicated In the rules of trust management of the Pass Investment Fund, on the conditions provided for by such rules. Investment Pai of the Execution Fund certifies the right of its owner who is an authorized person, on time set by the rules of trust management by this Fund, to demand from the management company to repay the investment education and payments in connection with this monetary compensation, commensurate the share in it in The right of the property of property that makes up this fund, or, if it is provided for by the rules of trust management by this Fund, allocated its share on it in the right of the property of property that makes this fund. If the rules of trust management of the Exchange Passive Investment Fund provides for the payment of income from the trust management of property that makes this fund, the investment part of this fund also certifies the right of its owner to receive such income.

Investment Pay of the Interval Funny Investment Fund certifies the right of the owner of this share to demand from the management company of the repayment of the investment share and payments in connection with this monetary compensation, commensurate the share in it in the right of the property of property that makes this fund, at least once a year During the period defined by the rules of trust management by this Fund.

The investment commission of the closed mutual investment fund also certifies the right of the owner of this share to demand from the management company to repay the investment education and payments in connection with this monetary compensation, commensurate the share of the share in the right of the property of the property that makes this fund, in cases provided for by this Federal Federal The law, the right to participate in the general meeting of the owners of investment benefits and, if the rules of the trust management of this Fund provides for the payment of income from the trust management of property that makes up this fund, the right to obtain such income.

Each investment pay certifies the same share in the right of the property of the property, which makes a share investment fund.

Each investment pay certifies the same rights, except in cases established by this Federal Law.

2. Investment Pai is not emission security.

Rights certified by the investment pair are fixed in a non-documentary form.

The number of investment benefits issued by the management companies of open, interval and stock exchange investment funds is not limited. The number of investment benefits issued by the management company of a closed mutual investment fund is indicated in the rules of trust management by this Fund.

3. Investment Pai has no nominal value.

4. The number of investment feces belonging to one owner can be expressed by a fractional number.

The emergence and change of fractional parts of investment shares in their owner are allowed in connection with the issuance or exchange of investment benefits, repayment of the unpaid part of the investment share in accordance with paragraphs 3 and 8 of Article 17.1 of this Federal Law, partial repayment of investment benefits in accordance with subparagraph 3 of paragraph 6 of Article 17 of this Federal Law or the repayment of investment benefits in accordance with sub-clause 1 of paragraph 4 of Article 14.1 of this Federal Law, as well as in other cases provided for regulatory acts Bank of Russia.

(see text in the previous edition)

Appeal and repayment of the fractional part of the investment share are allowed simultaneously with the entire investment paem. The repayment of the fractional part of the investment unit without a whole investment share is allowed only in the absence of its owner of a whole investment share. The fractional part of the investment share provides the owner of the rights provided by the investment lab, in the amount corresponding to the part of the whole investment share it is.

For the purposes of reflecting in the rules of trust management of a closed mutual investment fund of the number of issued investment shares, all fractional parts of the investment shares of this fund are summed up. In the event that a fractional number is formed as a result of addition, in these rules, the number of issued investment benefits is expressed by a fractional number.

In case one person acquires investment pairs with two and more fractional parts of investment benefits, these PAI form a whole investment share (whole investment pairs) and (or) fractional part of the investment share, which are equal to the sum of these fractional parts.

5. Investment pairs are freely addressed at the end of the formation of a mutual investment fund. Restrictions on the appeal of investment benefits can be established by federal laws.

Accounting for the rights to investment PAIs is carried out on personal accounts in the register of investment fell owners. At the same time, the accounting of the rights to investment pairs on the personal accounts of the nominal holder can be carried out if it is provided for by the rules of trust management of a mutual investment fund.

6. Specialized Depositary, Registrar, Audit Organization and an appraiser, with which the management company concluded the relevant treaties regarding the mutual investment fund, cannot be the owners of the investment benefits of this fund.

Daniel Popov, Partner and Director of Sales and Marketing Investment Platform Aktivo, prepared a dictionary of terms from the world of investments in closed mutual funds. How zpiphs are arranged and what you need to know, having a deal with them - read in the material.

The first mutual funds appeared in the United States in the 20s of the last century. But a particularly popular form of collective investment has become in the 70s-190s. The greatest income of American investors then gave investments in government bonds. However, it was possible to purchase these securities only in the presence of capital exceeding $ 10,000. Those who did not have such money, united into an investment team ("Pool of Investors"), thus creating a fund with the necessary capital.

What is zpif?

ZPIF - a closed mutual investment fund.

The word "closed" does not mean that such a fund somehow altered from investors that it is possible to get into it only by "invitation", or he hides his reporting from tax authorities. "Closed" in this case It means that this fund is formed only once. That is, investors have planned to buy "into the folding" securities or real estate, gathered the necessary amount of money, and the foundation has already formed, that is, "closed".

To pick up the funds from the closed fund at a certain time - after all, pairs are secured by a specific asset. You can convert your investments in the ZPIF back to cash at a specific point, which is determined and coordinated by investors in advance by the rules of the Du - for example, when the assets of the Fund brought revenue required And were sold.

As opposed to closed, open unit trust It can be formed throughout its work, investors can invest in it and take them at any time. According to the law, any mutual investment fund is not legal entityThis is not a firm, it is only a form of equity ownership of a certain number of assets.

Share, Pai or Investment Certificate

number pahev(Share or investment certificates) in the CPIF cannot decrease or increase. After all, Pai is the share of the investor in the Fund, which is formed only once. And purchasing Pai in the Foundation, each of the investors ZPIF becomes schever.

The shareman - a man who bought PAI, thereby joining rules of Trust Management Fund,that is, all the conditions on which the Fund carries out its activities.

The shareholders of the Foundation are its only beneficiaries, only they receive the right to income that the property is brought.

The Rules of Trust Management of the Fund is not just a contract that exists between investors about the management of their joint property. Rules are approved Central Bank RF. And, according to them, the management of the property of the Fund is engaged Managing Company (CC).

Who and how does the Property of ZPIF?

Learning from the management of property of the Fund, the Criminal Code is valid according to the rules of trust management of a specific CPIF. Such rules provide for the degree of competence of the Criminal Code: for example, the rules should indicate whether the Criminal Code can sell the assets of the Fund.

According to the current legislation, the Criminal Code is controlled not only general meeting shareholders, but several independent institutions. One of them - specialized depositary. it professional participant securities market, which works, including investment and non-state pension funds. He leads depositary (facial) accounts shareholders on which there are their pairs. This ensures accounting and safety of information about the pays. This means that the information that any person is a shareholder of the Foundation cannot disappear somewhere, even if something happens with the management company.

PAEV registration is also carried out in a private company - registrar.The depositary and the registrar may be the same organization.

Controls the Criminal Code also independent auditor.This is an organization that should not be affiliated by the Criminal Code, it conducts an audit of the management company in established by the rules Fund terms (once a year, twice a year and so on). The results of their report, it provides shareholders who thus make an assessment of the work of the Criminal Code from the uninterested party.

Each fund is also required to have independent appraiser. It conducts an assessment of the assets of the Foundation with a certain periodicity and informs to shareholders information about the cost of their assets (went up, fell in price, remained at the same level). An independent appraiser may be any company that has an appropriate license.

Russia oversees professional securities market managers., Including the management company of the Fund. He also provides the Criminal Code license trust managementasset phund. And the fund itself registers.

Summarizing, the process of creating a ZPIF step by step looks like this: first of the Criminal Code is preparing the remote control of the Foundation and submits them for registration to the Bank of Russia. Only after that the Criminal Code can attract in it shareholders for foundation formation It is precisely those asses that are provided for in its remote control and are allowed by current legislation for the relevant type of fund (rental, index, real estate fund, etc.). Thus, in the formation of the Fund's contributions, investors turn into pairs.

As soon as the investor becomes a shareholder of the Foundation, his property goes under the management of the Criminal Code (after all, he gave his assets in trust management Foundation), falling into the community ownership of the share shareholders. And now all questions regarding assets of funds are under jurisdiction and the Criminal Code.

The task of the Criminal Code - professionally manage the foundation, it also carries all the risks. economic activities, hires contractors who work with the assets of the Foundation and controls them.

For example, to work with assets in real estate can be attracted operating organization. It manages the object of real estate, which is located in the Foundation, repair the roof, lats the pipes, raises the snow ... This organization chooses the Criminal Code and concludes a contract with it.

What are the rights to shareholders ZPIF?

The share soldier has the right to its share in the income derived from the assets of the Fund's assets. If these assets are real estate, the shareholder will have a share owned by this property, but without the right to separate it "in nature" (that is, without the ability to dispose of the use of space or determining the specific part of the object, which belongs to the shareholder). In particular, in the certificate of ownership of the object it will be indicated that its owners are all SBS shareholders - what can be certified from the registry.

A pack can sell his Pai on the secondary market. Cost Paj It can be determined in different ways.

Pai has no nominal value. It defines the owner of the share, focusing, for example, on the calculations of an independent appraiser.

Easy to calculate I. cost pure assets Foundation (NAV).It consists of the book value of assets and cash on the fund's account. At the time of receipt of profits from the assets of the Foundation, the NAV will always be higher than book value object. When the Code distributes income to shareholders and the fund's accounts will no longer have free money received from profits, the NAV will return to the previous level.

For example, at the current account of the Foundation in the Bank lies zero rubles, but the cost of assets is 1 million rubles. So, the NAV is 1 million. When assets bring income per 100 thousand rubles. And it will appear on the stock bank account of the Fund, the NAV will be 1100 thousand rubles. NAV can change after each revaluation of the funds by an independent appraiser.

Most of the current existing investment instruments require considerable knowledge and practical experience in their use. Especially not to do without special knowledge, if you expect to receive a solid profit of profits. But what about those who have no time or desire to "dive into the material"? We advise you to pay attention to mutual investment funds based on the principle of trust capital management.

Putting investment funds are engaged in accumulation of funds that are invested in various projects in order to profit. Creating a Fund, His legal design And direct management is carried out by the management company. It also, in advance, arranged agreement, distributes the income of the fund between depositors proportionally to their shade.

Among all possible areas of investing, mutual investment invest in:

• stocks;
• bonds;
• the property;
• deposit certificates and deposits;
• mortgage;
• loans;
• artistic values, etc.

The activities of investment funds are regulated at the legislative level, which reduces the risks of fraud in this area. At the same time, no one may insure the investor from the risk of reduction or even the loss of invested funds. Putting investment funds in Russia can only predict the profitability of investments in them. This is done on the basis of the superficial analysis of the market and indicators of past reporting periods. But any guaranteed income in this field is extremely rare.

Investing money in PIF provides an investor acquiring part of its assets - an investment share. Most of the funds establish the minimum contribution for such a share, which is measured in fractions of all the assets of the FIF. The investment tax of the Foundation certifies the participation of its owner in the combination of depositors and gives the right to receive a part of the profits. The contributor has the right to require productive trust management of funds, the right of control over the management company, the right to compensate for the cost of the share when the agreement is ruptured and the violation of its conditions. In addition, investment Pai is a valuable paper that you can sell, buy or provide as collateral.

As for the risks of capital loss, then in comparison with other investment options, they are not so great. As a rule, such funds are created by major managers who have experience in investment activities. FIves that declare the conservative principles of their work are close in reliability to banking structures. However, the profitability of investments in them hardly exceeds bank deposits.

Not all funds are distinguished by the conservatism used investment strategies. So, in exchange for higher risks, the investor can receive an annual income equal to 40-60%, and in some cases and 100% of initial investment. In any case, the profitability of the Fund directly depends on the selected tools and the aggressiveness of the principles of work.

Types of mutual investment funds

Any private investorWho wishes to invest in PIF, is obliged to understand their views and understand the differences. Experts share all existing investment funds in Russia for several types:

1. Open dull. In it, investors are endowed with the right of free disposal by their shares. Investments in such funds are characterized by high liquidity and accessibility indicators for the wide masses of the population, due to the minimum amounts for contributions.
2. Interval FIF. In the treaties, temporary intervals are installed in advance in which the owners of PAEV have the right to sell their parts. Similar rules are established for the output of funds.
3. Closed share investment fund.Such funds are valid for a strictly defined period, not less than 5 years. Sale and removal of funds before the expiration of the existence of the FIF is eliminated, but in some cases the sale of mutations to other participants of the Foundation is allowed. Closed FIF - a kind of private investor club created under a specific project. The cost of shares is calculated in millions of dollars, which is why participation in them is available only to wealthy investors.

There is a classification of blows in investment directions. It is distinguished:

1. Funds shares. The predominant direction of investing such funds is stocks. Potentially, such funds have the highest levels of yield, but are characterized by quite large risks. According to the reviews of specialists, the most promising investments in the stock funds will be long-term investments.
2. Bond funds. Different with its conservatism, as bonds suggest a smaller, but stable yield. Ideal for investors who are looking for the most reliable and long-term investment tools.
3. Cash market funds. The main part of the assets of such funds is contained in deposits, thanks to which they are characterized by a guaranteed, but relatively small yield.
4. Indian funds. index Funds It is contained in the shares of companies presented in the stock market. Their main income is earnings on stock indexes. It should be noted that with relatively small risks, it is high enough.
5. . Each such mutual investment fund is the founder of any enterprise. Creating such funds is sent to a specific type of business or commercial structure. According to investors' reviews, investment funds in direct investment funds are characterized by elevated risks at high profitability indicators.
6. Real estate funds. Purpose - investment in a specific construction project. Such mutual mutual organizations closed type. They are created for a long period, which is why the long-term investments are distinguished. A fairly attractive version of an investment characterized by high yield. Enjoying a special attractiveness for wealthy players.
7. Mixed investment funds. Assets of such funds are contained in different financial Instruments. They differ in average profitability and average investment periods. Investing in the impact of such a category allows depositors as comfortable as possible and quickly diversify risks.

Benefits of mutual impassors

According to the reviews of professional investors, we will highlight the main advantages of investing in mutual funds:

• Transparency of investment activity. In addition to hard state control over the activities of mutual an important factor Trust to them is the transparency of their activities. Anyone can find free access financial reports organizations, which excludes fraud.
• Trust management allows capital investments to any investment tools, even without the presence of the necessary knowledge. Professional management Maximum reduces risks.
• By investing in the Foundation, which has different assets in the directions, the investor is able to expand the possibility of profit within one project.
• Availability of mutual effects. Establishment minimum sizes for deposits makes the investment in them as much as possible simple way Investment. Such investments are available today for most potential investors.
• Investment PAIs have high liquidity, in view of which investors have the majority open blows There is an opportunity to withdraw its funds at any period of the foundation.

How to choose a blow?

The most common mistake when choosing an investment fund from beginners russian investors is the fact that they pay attention to the indicators of the profitability of the institution. According to objective opinion, major players, the amount of profitability is relative, since it is predicted, and not calculated. Using such an approach in choosing a fund, a high probability of investing in a face with an aggressive strategy that will be able to show stable high results only as an exception.

According to experts, when choosing a Fund it is important to proceed from the tasks, goals and priorities in investment activities. In view of this, consider aspects that should affect the choice of investor:

1. The main goal of any investment activity is profit. If the target point is large income, it must be borne in mind that it will necessarily be associated with large risks of the loss of investment. If desired, minimize possible losses, investors need to be focused on the stock funds. If there is a desire to minimize risks - bond funds are perfectly suitable.
2. Terms of investment. Speaking of short-term investments, you will have to choose between bond funds and the funds of the money market. More long-term investments Possible in the funds of real estate or shares.
3. Capital size. The main rule: the smaller the amount of investments, the already the circle is possible for the choice of mutual effects. As a rule, minimum amounts for contributions are investing in the money market, stocks and mixed funds.
4. Rating. The Internet is shot by all sorts of ratings of mutual effects, depending on different criteria - yields, volumes of assets attracted funds, etc. Choosing between them, use only proven and authoritative sources.
5. License availability. Before investing, see the documents of the foundation you have chosen, which is licensed investment activities. Be sure to check the presence of trust management rules.

In any case, regardless of the foundation you have chosen, you must pay a report in the essence of your actions, given possible consequencesThe above. Not understanding the mechanisms of work, the input conditions, control control schemes, will make sense to invest in whatever fund. Studying the details of the activities of the mutages and choosing several investment funds for investment, you will create the conditions under which your capital will definitely make a profit, even if the attachments are made to the simplest but conservative and reliable mutiys.