The profitability of monetary funds exceeded the average deposit rates
The average level of deposit rates dropped to 19.1%, while the profitability of Mutual Funds in the money market reaches 21-22%, the Finam Management Management Company told Izvestia. Investments in money funds can be 2-3% more profitable than in standard savings products.
Money market funds are a type of mutual funds (when investors' funds are accumulated and used to purchase assets). Their peculiarity is that they usually earn money by lending foreign currency (mainly rubles and yuan) to major financial market players (for example, other banks). The profitability of such investments is related to the key rate and usually corresponds to it. It is believed that the risks of investing in money market mutual funds are minimal, since money cannot "go into negative territory," but the yield is very volatile and can change every day, but it will be close to the key.
The profitability of mutual funds depends on the level of interbank loan rates in rubles. There is a separate benchmark for tracking them, RUONIA. Since the beginning of the year, this indicator has averaged 21.1%, said Vladimir Kornev, an analyst at Cifra Broker. According to him, this is a normal indicator at the current key.
At the same time, the profitability of deposits can now be called underestimated, because they have dropped by 2 percentage points less than the Central Bank's rate, Vladimir Kornev added. Banks lower their interest rates ahead of time, but because of this, investors may switch to other financial instruments, added Vladimir Chernov from Freedom Finance Global.
Most likely, the inflow of public funds to deposits will slow down somewhat in the coming months, agreed Gayane Zamaleeva from <url>. This is especially true for ordinary retail customers, for whom it is important to maximize returns from savings products.
Read more in the exclusive Izvestia article:
Buried a deposit: seven of the top 10 banks lowered deposit rates
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