Currently, the figure that they talk about and use is 12 million brokerage accounts. That said, I would rather rely on a different number. I am talking about 5 million funded accounts. That is probably crucial. It means that around 7% of the economically active people invest in the stock market in one way or another. <...> About 70% of them are start-up investments up to RUB 100,000 for beginners — Dmitriy Panchenko, Investment Business Director, Tinkoff Bank.
Every Russian bank that I know of has a strategy to engage clients with deposits into investment funds, insurance products, structured notes, mutual funds. That is a global trend. <...> Many securities issuers want to join the market. This is a normal process, which, I believe, is going to accelerate, and the markets will increase in terms of liquidity, economic representation, and listings. We are on a path that will take many more years, on the condition of low inflation that we expect — Timothy Talkington, Co-head, Russia & CIS, Goldman Sachs.
The industry should not just make money off them [individual investors, – Ed.], it should be useful to the clients, so that they could make money. Because if a client makes money, there is going to be network effect, – or word of mouth, or whatever you call it – it will engage individual investors — Sergey Shvetsov, First Deputy Governor, Bank of Russia .
Goldman Sachs did a report, I believe it was 5 or 6 years ago. They surveyed 46 countries that had gone through a so-called disinflationary shock. <...> The fact of the matter is, in Russia we suppressed inflation and we found ourselves in a perfectly new situation – but 40 countries had gone through that before us. That is not the situation in 2020–2021, if we – and I believe we could – restrain inflation down to a normal level, this would absolutely be the trend for people, for retail investors, to find their way to the stock market — Mikhail Zadornov, Chairman of the Management board of Otkritie FC Bank.
Only 11% of Russian people’s savings are invested in stocks. In the US, the number is 51%. But if we take a look at China, for example, it is 47%. If we look at Brazil, it stands at 53%. So, theoretically, the share of stocks in the savings of Russians can grow 4 to 5 times. It will happen, it is only a matter of time — Jacob Grapengiesser, Partner, Head of Eastern Europe, East Capital.