In a basis of fund "Solid - Index of the Moscow Interbank Stock Exchange" lays so-called "passive" strategy of management. The basic structure of a portfolio is made with actions of the emitters entering into an index of the Moscow Interbank Stock Exchange. The base of calculation of the Index of the Moscow Interbank Stock Exchange includes 18 securities (ordinary, preference shares of 12 the largest and most reliable emitters: "Aeroflot", "AutoVAZ", "UES of Russia", "Norilsk Nickel", "Lukoil", "Mosenergo", "Rostelecom", Savings Bank of Russia, "Sibneft", "Surgutneftegaz", "Tatneft”, "Yukos"). The share of the securities included in a portfolio of fund, corresponds with their share in an index of the Moscow Interbank Stock Exchange.
Profitableness from investments in an index SIF depends not so much on actions of the concrete companies, how many from growth of the market as a whole. The basic problem operating fund consists that in structure of a portfolio actions which quotations grow would be got, and actions of those emitters were on sale, whose cost decreases.
Increase in value share of stock* from 19.05.2005 is 5.08 % (in percentage annual is 43.10 %)
Basic advantages of an index SIF before other funds:
- Simplicity and predictability is for the investor. The shareholder does not need to watch change of cost of concrete securities steadfastly. Presence of the balanced portfolio allows it to trace only dynamics of one parameter - an index. The index grows - the portfolio grows also.
- The balanced parity is between expenses and profitableness. Following to an index does not demand special expenses from portfolio managers, therefore the rate of compensation of the operating company can be in some times below, than in other categories of SIFs. At the same time the result from investments in index fund is rather predicted, as the index depends on actions of the most perspective and fast-growing companies.
- Reliability. Investing in an index, the shareholder actually avoids the risks connected with erroneous actions of the operating company. Getting securities on an index, the operating company cannot simply show results “worse", than on the average on the market. The statistics testifies, that the rare companies manage "to change" an index.
RULES of confidential management "Solid - Index of the Moscow Interbank Stock Exchange" and APPENDICES to Rules of confidential management of the Open index share investment fund are sent by the Open index share investment fund by inquiry.
Parameters of fund:
| Parameters "Solid - Index of the Moscow Interbank Stock Exchange" |
| Terms of formation of Fund |
From May, 15th 2005. till August, 14th 2005
(or earlier, on achievement of cost of pure actives of fund 2,5 million rubles). |
| Cost of a part during formation of Fund |
50 000 rubles |
| Minimal sum of investments at application for purchase investment part through "SOLID" |
100 000 rubles |
The trade mark "Index of the Moscow Interbank Stock Exchange" is used according to the contract concluded with the Moscow Interbank Currency Stock exchange.
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