Translation disclaimer: machine-assisted translation may contain inaccuracies. Always refer to the original source for authoritative text.
Collective investments are a bridge between the market and citizens — they allow any person, regardless of income level or financial expertise, to invest in the stock market. This was the message delivered by Aleksei Yakovlev, Director of the Department of Financial Policy [a unit within the Ministry of Finance responsible for capital markets and financial sector regulation], at the Expert RA Asset Management Market Leaders Forum [an annual industry conference organized by Expert RA, a major Russian credit rating agency]. He recalled that raising the capitalization of the Russian stock market is a strategic priority for the Government and regulators. According to him, achieving meaningful results in this area will require layered effort: improving the regulatory framework, developing financial literacy, and active engagement by market participants.
In his remarks, Yakovlev outlined steps taken recently to stimulate market development and strengthen public confidence in it. In particular, dividends received into Individual Investment Accounts (IIAs) [tax-advantaged retail brokerage accounts introduced to encourage long-term retail investing] may now be transferred to standard bank accounts; income from the sale of securities issued by high-technology companies is exempt from personal income tax after one year of ownership; and investors will no longer lose the long-term ownership tax benefit when transferring securities under a lending or repo agreement.
He also noted the growing interest among citizens in stock market instruments.
"The number of IIAs is rising. We can see that the Long-Term Savings Program [a state-supported voluntary savings scheme launched in 2024, offering co-financing contributions and tax incentives] is gaining popularity. In January of this year alone, approximately 500,000 contracts were signed. Citizens continued to open accounts even in January, despite it being a short holiday month. We also want to breathe new life into Investment Life Insurance [a financial product combining life insurance with investment in securities]," said the Department Director.
Yakovlev also spoke about measures aimed at building a positive image of the stock market. In particular, outreach to younger generations has been launched — a series of lectures is planned for this year at the largest federal universities, with participation from both regulators and market participants.