On 2 November 2017, the international dialog-forum “Mutual Fund Market in the AECSD Landscape. Dynamics and Trends” was held in Moscow. It was the first event for mutual fund market participants representing the countries consolidated by the activity of the Association of Eurasian Central Securities Depositories (AECSD).
The event brought together about 80 representatives of major Russian mutual fund market institutions and infrastructural organizations, delegates from AECSD member countries, including Armenia, Korea, India, and Turkey, as well as representatives of ICSDs (Euroclear Bank SA/NV and Clearstream Banking SA.). The forum was organized by National Settlement Depository (NSD) and the INFINITUM Group, under AECSD auspices.
Sheraly Abdujabbarov, AECSD Chairman, Managing Director of the Central Securities Depository of the Republic of Uzbekistan highlighted in his welcoming speech the critical importance of collective investments in the innovative development of national economies and their steady long-term growth: “Obviously, the mutual fund market is one of the most promising segments of the financial market, and our forum is the first step towards stronger and more productive cooperation to develop this market.”
Eddie Astanin, Chairman of Executive Board of NSD opened the forum and stressed the timeliness of this international conference which is being held during a period of active growth in the mutual fund market: “Collective investments are a very promising market segment with a low market entry threshold; this opens wide opportunities for retail investors. When we speak about the outlook for the nation’s financial sector development, first and foremost, we mean local investors, as the market is mainly supported by them. I think that CSDs may propose their own technological platform solutions that contribute to more rapid development of this market segment.”
According to Pavel Prass, CEO of INFINITUM Specialized Depository, it is essential to develop national markets based on local investors. However, it is also important to build cross-border interactions and create new economic growth drivers for our countries: “The retail investment funds segment is beginning to revive itself; this is the brightest trend on the Russian market. This is why we have to meet, work on, and discuss our joint needs, for example, a need for integrated platforms to distribute and support retail investment products. Of course, our countries’ market volumes and development levels are different. However, these differences will only increase interest in exchanging experience and practices.”