The PSB named the main challenges for the Russian stock market

The main challenges for the development of the Russian stock market in the context of a tough DKP were rising inflation, competition with the deposit market, information disclosure issues, liquidity of primary and secondary placements, as well as the level of investor confidence. To double the market capitalization by 2030, it is necessary to create a "long-term demand" through collective investments and long-term savings, expand the supply of issuers and improve the quality of IPOs, and develop a digital and understandable infrastructure for investors. This was stated by Alexey Zhogolev, Senior Vice President and Director of the Wealth Management Department of PSB, at the session "The Future of the Asset Management Market" within the framework of the II Forum of Asset Management Market Leaders.

"There is a macroeconomic context in which we live — to bring the capitalization of the stock market to 66% of GDP by 2030, or 1.5 trillion rubles of IPO per year for 5 years, and this is a significant figure. Let me remind you that 33 billion rubles worth of initial public offerings were made last year, about 80-100 billion rubles were placed a year earlier, and we have a lot to grow. It is important to remain optimistic, as the collective investment market is a tool that can and should become a locomotive for attracting funds to the Russian economy," said Alexey Zhogolev.

He stressed the need to develop long-term savings of citizens and increase interest in individual investment accounts.

According to Zhogolev, in the current conditions, the five-year period for placing funds on an individual investment account is comfortable and sufficient. However, now the AIS is underestimated by customers. It is necessary to stimulate the interest of mass investors in long-term instruments such as CDS, corporate pension programs, funds, and IIS.

Among the priorities, he also named increasing the volume and quality of IPOs and SPOs, developing the digital financial assets market, digital infrastructure and secure solutions, as well as measures to combat misseling.

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