Sberbank Leads in Retail Asset Management
Sberbank Leads in Retail Asset Management – According to the Moscow Exchange, the number of personal investment accounts (PIAs) opened with asset management companies in 1H20 topped 277,0001. As many as 63% of these, or 176,000 PIAs, were opened with Sberbank Asset Management. This is the best result among all asset management companies.
Vasily Illarionov, Executive Director of Investments and Savings, Sberbank,
“An increasing number of people is realizing that savings should be kept in different instruments, with some being reliable and others being yielding. Investment products are the ones that help customers boost the yield of their savings. However, it is sometimes extremely difficult to understand the variety of modern investment options, so people have questions: how does each instrument work and which one is right for me? A PIA with an investment management company is the best solution for those who do not have the experience or time to invest in the stock market on their own. It is simple and affordable while a tax deduction is guaranteed. Also, you can open a PIA via Sberbank Online in just a few clicks, and, moreover, it is 1% cheaper than at an offline branch.”
PIAs are now among the most popular investment products. Over the year, the number PIAs opened with Sberbank Asset Management nearly doubled from 90,000 as of August 1, 20192, to 176,000 as of August 1, 2020. The overall volume of funds invested via PIAs with Sberbank Asset Management overshot RUB50 bln3.
A PIA is a special account for investing in securities, which makes it possible to receive income and get a tax refund of up to RUB52,000 a year. At Sberbank Asset Management this is a ready-made investment solution tailored by professional financiers for those who do not have the time or experience to perform operations in the stock market independently.
3 As of June 31, 2020
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Danny Deegan is the Editor and proprietor of eurasianmarket.com. Born in the UK, currently working in financial services with an emphasis on equity investments and forex trading.