Russian Financial Sector Update

Bank of Russia FINANCIAL SECTOR OVERVIEW The Central Bank of the Russian Federation INVESTMENT FUNDS Bank of Russia aims to strengthen local institutional investor base: investment funds Figure 48: Number of investment funds by types and assets to GDP Figure 49: Breakdown of assets by type (as of April 1, 2018) 1800 Closed-end IF, Ihs Interval IF, Ihs Opened-end IF, Ihs Assets to GDP (%), rhs 3.7 1600 46 47 3.6 3.6 36 37 3.6 43 39 43 1400 353 356 3.5 332 331 327 325 3.5 1200 1000 800 600 3.2 400 3.3 3.3 1135 1150 1131 1132 1136 200 3.4 3.4 ■Cash ■ Equities ■ Bonds ■Government bonds Foreign securities ■ Real estate ■Authorized capital Other 18% 3.3 1131 1117 3.2 3.1 15% 9% 19% 1% 4% 6% 46 46 0 3Q 2016 4Q 2016 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 3 28% Total assets USD 58.8 bn Bank of Russia Regulation No. 572-P came into force in August 2017 and regulated activities on shareholders' roster management. Source: Bank of Russia

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