IzimaliUtshalomali

Kuyini fund mutual futhi yiziphi imisebenzi yayo? izimali Mutual nokuphathwa yabo

Phakathi kwezinsimbi zomculo ezingabizi kakhulu futhi esimeme zezimali ekhona emakethe Russian - mutual funds. Bavumela noma ubani ofisa ukuthola isakhamuzi imali sitshala imali amafa ezithile. Yiziphi imininingwane idatha yisikhungo sezinhlangano eziphambili zezezimali '? On kangakanani imali ungalindela lapho esebenza mutual funds?

Uyini Mutual Fund?

Kuyini fund mutual noma Isikhwama mutual? Lena indlela eyisipesheli izimali utshalomali ngokulandelana iqhaza collective zimali. It kufanele ngezimali sokudlulisela ukuphathwa trust inhlangano ekhethekile bese wenze inzuzo, uma umsebenzi abalingani yimpumelelo.

Ukutshala izimali mutual funds Kwenziwa ngokusebenzisa ukuthengwa ukwabelana ezithile - "amayunithi". Ngesikhathi esifanayo zimali abanikazi, inkampani ukuphathwa kuphela lucwaningo ukuthengiselana ezidingekayo zezimali.

Yini enikeza mutual funds?

Injongo eyinhloko okuyiwona zimali ku mutual funds - inzuzo. izimali Mutual uvumele zimali ukwenza ngisho nalabo abangenalo yinto ebalulekile emkhakheni utshalomali, - wawuqeda wonke lo mqulu umsebenzi ahlobene livele inkampani ukuphathwa. Ochwepheshe kwenhlangano, sithembele amakhono abo kanye nekhono kukhona okukhethwa best for imali utshalomali yibo abaphethe. Inkampani ukuphathwa isebenzela iphesenti kwemali kwenziwe usebenzisa dolobha emabhange.

Ngesimo esingokomthetho mutual funds

Yini ilungelo elingokomthetho babe mutual funds? Kungaphawulwa ukuthi akuzona izinhlangano ezingokomthetho. Ngesikhathi esifanayo, labo kufanele izinkampani ukuphathwa mutual funds. Isikhathi esiningi, umehluko anjalo esikhathini siqashelwe ngokomthetho ngenxa yokuthi kokubili isihloko ubudlelwane zomthetho - mutual funds kanye nezinkampani ukuphathwa - hhayi overpay intela. Dlulisa endaweni yomcebo uma isikimu olucutshungulwayo nokuxhumana kwabo kuncike kuphela imali, okuyinto etholwe zimali ukuqaliswa amayunithi, kanye nezimali lomthetho kusukela enzuzweni Criminal Code njengoba lebhizinisi.

kanjani izimali

yesikhwama sandawonye usebenza ngesisekelo imithetho yangaphakathi. Bona fixed izimo zimali udlulisele imali ekuphathweni inkampani ukuphathwa ngaphansi kwazo. Inhlangano kumele unelayisensi, eqinisekisa ilungelo labo ukuphatha impahla elingelakwaJuda le-mutual funds. Le dokhumenti esikhishwe Federal Commission for Securities Market. Inkampani ukuphathwa ungakha mutual funds amaningi.

Lapho nje lo isakhiwo elihambisana uzothola ilayisensi kusuka isimo, kumelwe izivumelwano eziningana - ne depositary, umbhalisi, i ethengiswayo ezimele, kanye mabhuku. Imithetho ukuthi sishilo ngenhla kumele kufakwe kule FCSM irejista. Futhi e ezifanele isakhiwo yokubhalisa state kuncike idokhumenti ekhethekile - Prospect ekushayweni amayunithi. Njengoba nje inkampani ukuphathwa ziyohlala zonke okusemthethweni, ke usungaqala umsebenzi wezimali.

Isigaba sokuqala umsebenzi Criminal Code - kokuqala umnikelo umphakathi amasheya. Ngalesi umsebenzi isiqondiso CC ukuqoqa inani eliphansi capital. Uma lokhu kwakungenakwenzeka, kwavulwa isikhwama mutual ke kumele kwavala futhi imali - idluliselwe emabhange.

Ukulawula ukusebenza kwe-Fund

Imisebenzi mutual funds kukhonjelwe ukulawula isimo. Umzimba omkhulu, okuyinto ke lucwaningo, - Federal Securities Commission. Ngakho, sivumele isishaya-mthetho ekuthuthukiseni zezinyathelo zokulawula i-imisebenzi mutual funds Kwamiswa imithetho ehlobene izakhiwo utshalomali kufanele uhambisane.

Ngokwesibonelo, ama-asethi aphethwe mutual funds kufanele ilawulwe yinkampani eyodwa, futhi agcinwe - in the kwamanye. Ezingeni zomthetho, lokubeka izindinganiso, ezihilela ukuvezwa enemininingwane yolwazi utshalomali. Imibiko mutual funds kuhilele ngezinga eliphezulu idatha lobumbudumbudu.

Ingabe imali yibhange?

Imininingwane mutual funds akuqinisekisi imali zimali. Inkampani wahlanganyela ukuphathwa mutual utshalomali Isikhwama ukuba ahlenge amasheya njengoba nje oda kudinga zimali, kodwa izimfuneko zomthetho eziphathelene inzuzo maqondana izakhiwo is hhayi kusungulwa. Okusho ukuthi, naphezu kweqiniso lokuthi mutual funds zisekujuleni njengoba kwezezimali abatshalizimali abangenawo uchwepheshe utshalomali isipiliyoni esikhulu, kucatshangwa ukuthi abanikazi dolobha bayasazi zonke izingozi emakethe ahlobene.

Ingqikithi yalo ukwabelana

Ake sicabangele lokho amasheya utshalomali. Lapho zimali idlulisela izimali e-mutual funds, it is, eqinisweni, izuza esigxotsheni enhlanganweni. Ngakho, isabelo ukutshalwa ngokuhlaba utshalomali Isikhwama - yesibambiso uqobo, okubonisa ukuthi umnikazi wako ekhona inani amafa wabanikazi Isikhwama mutual. Lokhu isakhamuzi banelungelo lokulindela ukuthi Criminal Code kahle ephethwe Isikhwama utshalomali. Ubuye ilungelo isinxephezelo uma ithemba ukuphathwa inkontileka izonqanyulwa.

Pai ayinayo inani eliphansi yezindleko. imali yakhe yokulinganisa kubonakala intengo izimpahla isikhwama sika net. Lokho izindleko eyodwa kuthathwe iphindaphindeke isamba imali yesikhwama mutual ihlukaniswe ngenani nokwabelana. Intengo amasheya abafanele buyahluka kuye ngezinkathi Imiphumela utshalomali. Pai ayikwazi futhi kubhekwe nokulingana uhlobo izibambiso, efana amasheya. Kulokhu, uhlobo ezifanele kwezezimali ayikwazi lisuselwa nokwabelana. Inani amasheya e-dolobha yombuso Isikhwama mutual awugcini ngumthetho.

izinhlobo izimali

Cabanga yiziphi mutual funds. Kukhona isimo sokunquma eziningana for ngezigaba zabo. Ngokusho kwelinye ezivamile, mutual funds zingahlukaniswa zibe 3 izinhlobo: evulekile, ivaliwe futhi isikhawu. Kuyini ngokucacile zabo?

Vula ekupheleni Isikhwama - isikhungo sezimali ukuthi yisona esikhulunywa abantu abaningi emkhakheni ezifanele. sici yabo eyinhloko - ukuthenga khulula nokuthengisa amasheya. inani capital futhi inani abanikeli awugcini. Ukuze lolu hlobo mutual funds libhekene sitshala imali amafa ukuthi kukhona uketshezi kakhulu.

mutual funds Kuvaliwe ungachazwa ukuthi amayunithi ethengisa kwakhiwa lapho kuqinisekiswa ukuthi isisekelo. Letakhi musa afeze wokuhlengwa amayunithi, singabali izibonelo lapho izimangalo zimali ngokumelene imithetho Criminal Code. Izimali elihambisana akhiwa, ngokuvamile ihlandla esinqunyiwe, okuyinto bavumelana kusengaphambili zimali. Kuvaliwe ekupheleni utshalomali Isikhwama - isakhiwo okuvamise umkhakha lunye. Ngokwesibonelo, umsebenzi wayo kungase kuhlobane emakethe ingcebo noma emisha. Nokho, isibonelo, "Isikhwama sokuqala mutual zokuqala" evulekile. Nakuba umkhakha yayo lunye - nje emisha efanayo.

Kube isikhawu mutual funds. Isici kakhulu ngomsebenzi wayo ukuthi ukugcwaliseka amayunithi, kanye ukubuyiswa kwemali yabo e esinqunyiwe zinkathi. Ngesikhathi esifanayo izimali isikhawu ukusebenza ikakhulukazi ngamasheya. Ngakho-ke, bezikhali mutual funds enjalo (eziningi Izibuyekezo abanikeli uqinisekise lesi) kungayiletha inzuzo engaphezu kuka-, isibonelo, vula-mutual funds.

Kunenye umbandela ovamile for Ukwahlukaniswa mutual funds - utshalomali sithombe. Ngakho, "Isikhwama mutual zokuqala kuqala," njengoba sibonile ngenhla, usebenza emkhakheni emisha. Kodwa kukhona mutual funds, eqhuba umsebenzi esibophweni emakethe, mortgage, imikhiqizo yangempela embonini.

Ngokwesibonelo, izimali, imisebenzi ehamba phambili e-ingxenye isibopho, imali, ikakhulukazi izibambiso abafanele esikhishwe isimo, izinkampani, ukusebenza zifakwe ebhange kanye lwemali. ukusetshenziswa kwempahla yazo ngokuvamile ezakhiwe nokwabelana. izimali Mutual, okuqondene nalesi sigaba, abahlaziyi abaningi ibhekwa njengevela hhayi inzuzo kakhulu, kodwa enokwethenjelwa kakhulu, ngenxa yesimo izibopho, ezihilela yokukhokha ayimpoqo emabhange we izinzuzo we wezitifiketi.

Ngakwelinye ihlangothi, mutual funds, zinezikhathi ephezulu Isu lokutshala izimali - yibo abasebenza amasheya. Kodwa ngesikhathi esifanayo isivuno bona kungaba ngendlela engenakuqhathaniswa kunaleyo izimali imali uchithe izibopho. Kungaphawulwa ukuthi ngaphakathi kulesi sigaba sama-mutual funds ube nesinye isizathu sokuthokoza Ukwahlukaniswa izikhungo. Ngakho, kukhona izimali ukuthi ngokukhethekile imali kuyo izinkampani ezinkulu - "chips blue", bese kuba khona labo abakhetha ukutshala amafa izinkampani imfundamakhwela.

Kukhona ne-mutual funds okuxubile. Ziyakwazi nzima lingachazwa ngokuthi ezisebenza endaweni ingxenye ethile. Kodwa ngesikhathi esifanayo abaningi babo hlanganisa nqampuna umhlabeleli, onguchwepheshe ukwabelana izimali, isivuno okungukuthi okusezingeni eliphezulu futhi ngesikhathi esifanayo izimfanelo mutual funds atshalwe izibopho, kwenza umuntu agxile ngokukhethekile. Ukutshala izimali ezikhungweni ezifana Kunconywa zimali, okuyiwona emakethe wezimali omusha ngokuphelele.

nemisebenzi mutual funds

Kuyasiza ukuba bacabange ngalokho izici sici mutual funds. Abakwazi oluthathwa ku zezenhlalo kanye nezomnotho. Imisebenzi Uhlobo lokuqala yilezi:

  • akunika izakhamuzi ithuba uthole ezengeziwe ukuba imithombo evamile imali - inkokhelo, imali, ngisho noma abanalo ulwazi olukhethekile emkhakheni utshalomali;
  • esabalalisa imfundo zezimali sabantu (zimali ekugcineni uqala ukuyiqonda imithetho emakethe, sithonye impumelelo ukutshalwa);
  • kumiswa imisebenzi for bezimali kanye nezifundiswa ahlobene ne sephrofayela, abameli, program, onobhala, yokuthengisa abaphathi.

Phakathi imisebenzi eyisisekelo kwezomnotho ka-mutual funds:

  • ukwanda ofeleba imikhakha ehlukahlukene ibhizinisi, ezimakethe zezimali, okwagcina kunomthelela ekukhuleni komnotho;
  • izinhlelo zamabhizinisi - kokubili ngqo (ekhuthaza bezimali abanolwazi ukuvula amabhizinisi abo ngendlela izinkampani ukuphathwa kwempahla) kanye engaqondile (kumiswa emabhange amayunithi abahola ngokusebenzisa ulwazi ngcono namakhono emkhakheni utshalomali);
  • ukuhlinzekwa ezengeziwe eziqoqwayo ukuba amabhajethi abasemazingeni ahlukahlukene - ngezithukuthuku ezibanjwayo emalini zimali, kanye nezimali ezivela dolobha ogunyaziwe, uma umthetho.

Manje ake sixoxe ngokuthi emihle nemibi imali mutual funds.

Ngebuhle nebubi kokutshalwa kwezimali

Ake uqale nge izinzuzo ukusebenza mutual funds emabhange. Inzuzo main emimoya ekhona kunoma yisiphi isikhwama mutual, ukuthi imali ukusebenzisa ngochwepheshe abanolwazi. Uma lokhu umbandela is hhayi bahlangana, inkampani ukuphathwa nje ngeke uthole ilayisensi kusuka Federal Securities Commission. Le nhlangano ubeka phambili izidingo ethize neziqu professional we Criminal Code nabanikazi, ngendlela yakhona etshengisa kubo. izimali Mutual ngokuvamile inikeza zimali abanolwazi, siqiniseka amakhono abo futhi amakhono.

Ukutshala imali inhlobo efanele kwezimali ziyafinyeleleka kakhulu. Inani ubuncane lekusisa mutual funds kakhulu - .. ruble Abangaba yizinkulungwane 2-3, futhi ngezinye izikhathi ngisho kancane. ukubuya Kulindeleke ngomhla kungaba ufana inzuzo kusukela ukubekwa imali emabhange namagama amiselwe ezifakwa esikhulu kakhulu - lisuka ezinkulungwaneni ezimbalwa, anamakhulu mane.

Ukutshala imali mutual funds ezingeni wokulondeka isici eziningi nenqubo efana ezifakwa emabhange esifanayo, izimpawu isimo eliphezulu kakhulu ezokuphepha. Ukulawula imisebenzi isiKhwama ngumuntu ejensi ahlukene, futhi izingxenye umsebenzi mutual funds izinqubo lokucabanga zokuqapha zilandelwe ncamashi. Okuqinile isimo kokuqondisa is kwahambisana by izidingo zomthetho, njengalezo ezihilela isibopho Criminal Code ukubeka izimali ngendlela Depository ehlukile.

Phakathi izinzuzo abalulekile mutual funds - intela esithambile. imisebenzi yamanje awekho ngaphansi izintela. Ukukhokhwa kwezintela kudingekile liyadingeka kuphela uma ukudayiswa ngo- zimali. Ngakwelinye ihlangothi, Criminal Ikhodi ikhomishini izimo ngokuvamile ngempela eyamukelekayo abatshalizimali - esithathwayo, ngokuvamile 3-4% we inzuzo dolobha.

izimali Mutual babe naye nobubi obuthile. Okokuqala, kwavulwa isikhwama mutual ayikwazi ukuqinisekisa inzuzo. Kulokhu, impumelelo inkampani esikhathini esidlule nje akusho kusengaphambili awokuthi yokuphindela Imiphumela utshalomali. Ngokuvamile, bagqugquzela futhi ethandwa mutual funds, futhi ngempela kufanele uthole le isimo, ukungaqedeli elilungile kakhulu yokutshala izimali, futhi umphumela waba ukuthi abatshalizimali abasele lutho. Ingase futhi uxhumeke izimo ezintsha emakethe. Ngaphezu kwalokho, ngisho noma imisebenzi Criminal Code akunakunisiza, ikhasimende nokho kufanele ukhokhe wakhe amasevisi ngokusebenzisa ezibanjwayo Commission.

Phakathi bokwenza esiphawulekayo mutual funds - ngesilinganiso iphansana kokuhoxiswa kokuhlelwa izimali zimali. Njengomthetho, abatshalizimali ukuthi ulinde cash Ukuzihoxisa cishe isonto. Kulokhu, kungenzeka izindleko ezihambisana isidingo sokwenza izitifiketi ethize utshalomali.

Ochwepheshe mayelana mutual funds

Yiziphi imicabango yabantu ochwepheshe 'imisebenzi mutual funds Russian? Naphezu kwalezi zimo ezinhle amaphutha, abahlaziyi ngokuvamile zihlanganisa mutual funds ukuba okuthembekile, esobala futhi kufinyeleleke utshalomali amathuluzi. Ochwepheshe wazi ukuthi imisebenzi mutual funds libhekene ngezinga eliphezulu kakhulu nokuvuleka, hhayi kuphela ngenxa nezimfuneko zomthetho, kodwa futhi izikhungo kanye nedatha yamakhasimende.

Okubaluleke kakhulu, ngokusho kongoti, wukuthi ukuphathwa Isikhwama mutual Kwenziwa ochwepheshe. Kukhona kwezezimali, okusikisela ukuthi isivuno kuzoncika ngqo ku isinyathelo yilowo otshale izimali. Endabeni mutual funds, bangakwazi ukuphathisa dolobha wazibonela abantu babo.

Ochwepheshe ukuthi abatshalizimali in ithemba jikelele e-mutual funds. Ngokwesibonelo, ekupheleni the 2008-2009 esibucayi, lapho kuba olulindelekile outflow zimali kusuka mutual funds, izakhamuzi eziningi ngokushesha ngangokunokwenzeka kwaqala ukubuyela nokuxhumana izimali. Dynamics lekusisa mutual funds eziningi Udlule izibalo ukulungiswa ngaphambi obumbi.

Kungakanani uhola ku mutual funds?

Yini engase ibe elilindelekile inzuzo kusukela izimali mutual funds? Njengoba siphawulile ngenhla, izimali zihlukaniswe ngezigaba eziningana - abanye ngenxa isifiso ukutshala izimali zami kule ukwabelana amabhizinisi elikhula ngokushesha, ingase ibe ngaphezulu inzuzo kakhulu, abanye ukuthi uncamela ukutshala "chips blue", inzuzo encane. Esimweni sokuqala, ematfuba ukuthi zimali isala lutho, yebo, ephakeme.

Kubaluleke kakhulu njengendlela ndlela afanelekayo ukuba izinkinga inkampani ukuphathwa utshalomali. Izimali ezilinganayo avulekele abadlali abanolwazi emakethe, njengoba umthetho, oholela kangcono futhi uzinze ngokwengeziwe kunalawo zifiki based - naphezu kweqiniso lokuthi iziqu zabo izidingo esiqinile phezu ezingeni lokulawula isimo.

Ngo-mutual funds evulekile, onguchwepheshe, isibonelo, kwi izibopho, isivuno ngokwesilinganiso - 10-12% ngonyaka. Izimali ukuthi ukutshala esitokisini, anganikeza inzuzo xaxa - 20%, ngezinye izikhathi - ngaphezulu. Kuvaliwe mutual funds ngokuya inzuzo anesikhundla kokubili. "Isikhwama Mutual zokuqala," ngokusho kwabanye idatha zomphakathi, baloba imbuyiselo amashumi amaningana of amaphesenti ngonyaka. Kodwa kuncike kanjani ezihleli kwempahla inyuka yesikhwama mutual - inhlokodolobha izinkampani ezintsha. Ezinye mutual funds Sberbank, ngokusho Ukwaziswa komphakathi babe ezithela ezingaphezu kuka-30% ngonyaka.

Ochwepheshe emkhakheni wezimakethe zezezimali batusa ukuthi basebenze ngezimali eziningana ngesikhathi esisodwa, ngaleyo ndlela bahlukanise izimali. Kungenzeka lokhu kungakwandisa inzuzo. Kunengqondo, abahlaziyi bekholelwa ukuthi baqhathanisa iziKhwama zeMualual size ngobukhulu bamakhomishana kanye nezinye izindleko ezingahlobene ngqo nokuthola imali yokutshala izimali. Ungakwazi futhi ukulalela izici ze-Code Criminal kusukela ekubukeni kwabasunguli. Uma inkampani yokuphatha ivuliwe ngumdlali omkhulu emakethe, njengokwesimo se- SIF PIFs, ukuthembeka kwayo kuphakeme kunamanye amafemu asanda kubonakala esigabeni esifanele. Ngakho-ke, kumuntu obeka imali, indlela ehlangene yokuhlola amathemba okubambisana nesikhwama esithile ingcono kakhulu.

Amathemba wezimali zomphakathi

Ithembisa kanjani ukuthi ingathembiswa njengethuluzi elinjalo lezezimali njengesikhwama sokutshala izimali? Ngokuvamile, ochwepheshe balinganisela ukuthi unamandla amakhulu kakhulu ngenxa yokuthi umnotho waseRussia ngezindlela eziningi uhlukaniswa njengokuthuthukisa.

Izimboni eziningi ohlelweni lwezomnotho kazwelonke lweRussian Federation azigcini. Ngaphezu kwalokho, ngokuphathelene nemicimbi eyaziwa kakhulu kumkhakha wezinqubomgomo zangaphandle, amabhizinisi amaningi amasha amasha avuleka, ikakhulukazi emkhakheni wokungena esikhundleni. Ngisho nalawo makhrikhthi asetshenziswe njengabantu abagcwele (isibonelo, imboni yokudla, ezinye izingxenye zobunjiniyela kanye nezimpahla zabathengi), bangathola izikhuthazo ezengeziwe zokukhula. Ngakho-ke, abathengi banokuningi okutshala izimali futhi, ngokufanele, ezinkampanini zokuphatha eziphethe izimali zomphakathi, futhi.

Kuyaziwa ukuthi ukuvunwa kwezakhiwo ezifanayo eYurophu njengento yonke kuncane kunaseRussian Federation. Ngakho-ke, ochwepheshe balinganisela ukuthi amathuba okuba izimali zikhangeleke futhi avela ekubukeni kokukhangisa kokutshala izimali emakethe yaseRussia kubalingani bangaphandle. Ngakolunye uhlangothi, abantu bezinye izizwe banakekele ngokucophelela ukuzinza kwezinhlelo zezomnotho kazwelonke ngokujwayelekile. Inzuzo ephezulu yamathuluzi athile wezezimali, njengeMutual Funds, ngokuqinisekile ingaba nesithakazelo kubo. Kodwa isici esibalulekile esifanayo somtshali-zimali wangaphandle kuyoba ukuzinza komnotho njengamanye, amathemba amasu okusebenzisana nemakethe ethile. Ngakho-ke, ukukhangiswa kwemali yokubambisana yaseRussia kuzoxhomeke ngokuqondile endleleni uhlelo lwezomnotho lwezwe oluzophumelela kuzo zonke ezinye izingxenye.

Imakethe ekhulayo

Ngandlela-thile, ngezindlela eziningi, imakethe yezimali ezihlangene eRussian Federation ikhula, ngamathemba okukhuphuka komthamo. Inkinga eyedlule yabonisa ukuthi abatshalizimali ngokuvamile banethemba lezi zimali. Njengoba isimo sezomnotho sithuthuka esimweni samanje sokuthuthukiswa komnotho kazwelonke waseRussian Federation, akukhishwa ukuthi izakhamizi zizothola izikhuthazo ezintsha zokutshala izimpahla ngokusizwa izinkampani zokuphatha zezimali zomphakathi. Okubaluleke kakhulu, izimali zomphakathi ziye zaphela ekuboneni eRussia Federation njengethuluzi lokungcebeleka kwezezimali. Izakhamuzi zivulekile ukusebenzisana okuzuzisayo kanye nalezi zakhiwo zezezimali.

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