The investment market in Russia continues to grow. As practice has shown, the increase in the Central Bank rate and the decrease in liquidity of the currency markets are not an obstacle to growth. In addition, thanks to these processes, new tools have appeared with which you can benefit. Irina Afanasyeva, Regional Director of the Sinara Investment Bank in Samara, spoke in an interview with Volzhskie Novosti about stock market trends and the experience of the client service team. – How long has Sinara Bank had an investment direction? – Our bank has a history of more than 30 years. Previously, it was called SKB Bank. In 2021, a rebranding took place, and the Bank received a new name – Bank Sinara. At the same time, a new investment direction appeared in it. – What services does the bank provide to clients in this area? – The range of investment services includes a huge number of products aimed at individuals and legal entities. We start working with clients from an amount of 1.5 million rubles. The choice of products is made for each buyer individually – depending on their capabilities and goals. If a person comes with a small amount, he will be able to invest in very liquid securities (shares and federal loan bonds, for example). You can place funds for one, seven or 90 days at fairly high rates. We also offer our clients new tools and products that are most relevant in today’s situation. Thus, starting in 2023, clients began to get acquainted with the redomiciliation of companies and the replacement of Eurobonds. Also today, more effective, and therefore in demand among clients, have become placements – bonds with a variable coupon, which depends on the key rate of the Bank of Russia or RUONIA (this is the rate on the interbank market). Our clients can create portfolios consisting of various complex instruments. Personal brokers help in forming portfolios. – What do you take into account when choosing a product suitable for a buyer? – We always proceed from the individual needs of the client, his personal goals. When choosing investment instruments, the term of the placement of funds and the goal pursued by the client are always taken into account. For example, there are conservative clients who want to make a profit slightly higher than the deposit, but at the same time minimize risks. For those who are ready to take risks and are happy with the high volatility of their investments, that is, price changes, you can consider investing in shares. It is important that the client understands all the complexities of investing well, then the result will be more predictable for him. Our bank employees pay special attention to explaining the advantages and disadvantages of various investment strategies. – Please tell us about your team. What specialists work in the bank? – We have a qualified team – exclusively experienced employees. On average, they have 19 years of experience in the financial markets, and the youngest specialist has 11 years. Colleagues have a huge number of competencies. We are glad that many clients have been with us for many years. This means that we really help people thoroughly understand the essence of the instruments they are interested in. – Previously, society was wary of brokers, but now experts are recording an increase in demand for their services. Tell us how things are going with the Personal Broker service in your bank. – This service is in demand among our clients. The client is assigned a personal consultant – a personal broker. He studies the client’s goals, creates his risk profile (attitude to risk) and offers individual investment recommendations. In fact, the broker develops individual investment strategies and helps the client achieve his investment goals in the best possible way. At the same time, the broker stays in touch with the client on tactical issues – explains each of his recommendations and warns about risks. Periodically discusses the current market situation with the client and answers his questions. An important feature of this service is that the final investment decision always remains with the client – this is the difference between the “Personal Broker” service and trust management. We offer work with a personal broker to investors willing to invest from 6 million rubles. – Which investment instruments are considered the safest and which are the riskiest? – Of course, the riskiest market today is the derivatives market, where derivatives are traded. These are futures, options, etc. The safest instrument is federal loan bonds, issued by the state. There are also corporate bonds, the effectiveness of which the client can judge for himself, based on an assessment of reliability and profitability. – Is it profitable to invest now? What would you advise investing in? – With high inflation, failure to place funds is actually a loss. Investors are forced to look for options: some choose deposits, others go to financial markets. Today, among the most successful investment options, I would highlight bonds with a variable coupon, which I mentioned earlier. Our personal brokers began recommending such bonds to their clients at the beginning of 2023. Many clients had doubts then, because then everyone was accustomed to bonds with a fixed coupon. In addition, the previous ten years were a period of low rates. But it is important to be able to change your habits depending on the economic situation and use financial instruments that correspond to the current situation. This is a period of high rates, and it can continue. Investors who switched to bonds with a floating coupon in time were able to benefit from the increase in rates. – How long do you think the period of high rates will last? – We cannot make any forecasts for a long time now, so it is difficult to say. The latest commentary from the Bank of Russia says that rates in Russia will be high next year. But if the economic situation improves, the rate will be reduced. The Central Bank is taking a reasonable approach to its decisions. Probably the most pessimistic market expectations are a rate of around 20%. But will such a decision be made at the next meeting? Most likely not. Rate cuts will stop the economic downturn and will become the main driver of growth in the stock and fixed-rate bond markets. – How would you characterize the current situation with the ruble exchange rate? What will happen to it in the future? – I have been working on the Russian stock market since 1996 and have observed all the crises. During most of them, investors used one strategy – they bought dollars and thus protected their funds from inflation. This is not the case now. The currency market itself has changed – it has become less liquid and more volatile. Therefore, we expect the ruble price to change quite significantly. The forecast for the next three months is 88-93 rubles per dollar. – There is a lot of talk about investing in yuan now. How promising is this market? – There are also problems with circulation and liquidity in this market. They refer to the sanctions that were applied to the Moscow Exchange. Therefore, we are now waiting and watching what will happen to the circulation of the yuan in the future. We really live in interesting times, in an age of change. All of them are mainly related to the marketing infrastructure. This is probably why I would now consider ruble instruments for investment, but tied to the exchange rate. For example, replacing bonds. These are bonds issued from 2022 to replace classic Eurobonds. They are also very popular among investors now and are giving good results. – What else should you pay attention to when investing? – Of course, I would advise any investor to come to our office, tell us about their financial goals, and then we will be able to find the right solution. I would also recommend closely monitoring the macroeconomics, the decisions of the Bank of Russia and its comments. They set guidelines for the market and investors. Advertising ERID: 2VSb5wkj6Fa https://sinara.ru In accordance with paragraph 16 of Article 18.1 of the Federal Law on Advertising: https://base.garant.ru/12145525/b89f3082384f3d024adf2f3a41be9756/#friends
“With high inflation, the lack of investment of funds is actually their loss” – Russia today
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