In the first quarter of the largest management companies have significantly increased the revenues from trust management. Remuneration rose to 8.26 billion rubles, which is 28% higher than the previous year. However, due to the increased volatility in the stock market the net profit of the companies declined to 2.4 billion. However, many companies, the losses were “paper” — caused by the ongoing revaluation of assets.”Kommersant” summed up financial results of the largest management companies in the first quarter of 2020. Were analyzed the financial statements 30 companies and groups, under which there are more than 8 trillion rubles of assets, and revenues for the previous year exceeded 100 million rubles a year. In the first quarter, total revenue from services of trust management made up of 8.26 billion rubles, which is 28% higher than the first quarter of 2019.revenues totaled largest management companies in the first quarter of 2020 goloslovny revenue provided by management companies, working with major state and private banks. As a result, among the leaders of the group of companies “Sberbank asset Management”, “Alfa Capital and VTB Capital investment Management” and “Raiffeisen Capital” and “Rosselkhozbank asset management”. A significant proportion of their business is mutual investment funds (MIFs) and private asset management. “After a quick recovery in the market in 2019 clients since mid-year have begun to increase their investments in retail products,”— said General Director of “Sberbank asset Management” Evgeny Zaytsev. According to General Director UK “Opening” Konstantin Feduninskogo in the first quarter of the company 2.5 times, to RUB 8.6 billion, increased sales of structured products to retail customers, which positively affected the company’s revenue.Observed in some companies the decline in revenue, according to General Director UK “Trinfiko” Egor Krotkov, mainly could be due to the absence in the first quarter of interest on large institutional clients. “The key activity of the group of UK “Region” is the management of pension assets, therefore, the main profit of management companies the accounts for the remuneration for the year and interim results, quarterly in this case, is unreliable,”— said General Director of “Region asset Management” Ekaterina Zaytseva.The high turbulence observed in the markets in the first quarter, had a significant impact on the net income. According to “Kommersant”, only a third of management companies and groups were able to increase net profit, eight companies recorded losses. Total industry dropped compared to the same period of 2019 4%, to 2.4 billion RUB a Considerable variation in the performance of companies can be associated with differences in the structure of their own portfolio. “In the first quarter of the basis of the portfolio consisted of Eurobonds of Russian issuers, foreign currency revaluation which provided more than half of the increase in net profit. Another 30% of the growth has brought a reduction in costs, in particular, the active marketing”,— said General Director of “Alfa-Capital” Irina Krivosheeva.However, not all companies effect from the revaluation were the same. In particular, as described in the group UK Region, the total losses of the company associated with a market revaluation of bonds of high credit quality. “UK does not exercise the right of temporary changes to the rules of revaluation of certain categories of securities (this relief was granted in accordance with the instructions of the Central Bank) and applied the marked to market all securities at the reporting date”,— says MS Zaitseva. However, this “paper” losses, therefore, as the recovery of the market, they will be compensated.Market participants cautiously look at the prospects coming quarters. According to Konstantin Feduninskogo, “with the General decline in the economy, many people question the investment will go by the wayside and long-term planning and investment will be able to afford a few”. “In the coming months, the inflows will be lower than at the beginning of the year, but as the recovery in economic activity, bringing to the end of the year will increase”,— said Ekaterina Zaitseva.Dmitry Ladygin, Vitaly Guidepostal individual companies in the group of companies were summed up.Dash — the indicator is absent or correct calculation is impossible.N. d. — no data.According to the statements of companies.
