Cash fund inflows quadrupled during the year

The inflow of funds (both citizens and institutional investors) into money market unit investment funds (UIFs) amounted to RUB 527 billion in the first 11 months of 2024. This follows from the data of the financial market aggregator InvestFunds. This is four times more than in 2023, Izvestia found out.

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The total assets of money market funds from the beginning of the year to December 24 increased 5.5 times, up to 996 billion rubles, follows from the data of InvestFunds. Now they account for more than half of the funds of all mutual funds in the Russian market (54%).

The Central Bank reported in its December Brokers' Key Indicators Review that money market funds, along with floating coupon bonds, were the most popular among investors in 2024. In fact, it was these two instruments that were the drivers of the financial market in the past year, emphasized Dmitry Tselischev, managing director of investment company Rikom-Trust.

Such funds invest in money market instruments - mainly in reverse repo transactions with National Clearing Center. The fund buys securities from NCC for rubles or other currency, which it uses for its operations, and sells them back to it after an agreed period of time at a higher price. In essence, such operations are loans secured by securities, so the yield on them grows along with the key rate (in other words, along with the cost of money) - in 2024 it reached a record high of 21%.

Read more in the exclusive material of Izvestia:

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