Page 107 - RusRPTJun21

The rally also comes at a time when global crude prices continue to rise, and this can also be linked to the inflows of cash from funds investing in Russia, Russian media reported, citing analysts from investment company Freedom Finance.
The analysts also noted that the weakening of the US dollar has boosted commodity prices, as well as assets like gold. Additionally, at the moment there are lots of raw material companies on the Russian market, which also plays a part in boosting the markets.
Moscow Exchange has published retail investor statistics for April.
Individual investors bought RUB77bn ($1bn) worth of Russian stocks -- the largest amount on record.
Local mutual funds also enjoyed decent inflows. In total, RUB30bn was brought into mutual funds, of which RUB16bn ($200mn) went into Russian stocks. So in total local investors bought $1.2bn worth of stocks.
On the sellers' side, corporates sold $700mn in one IPO and one ABB. This means that foreign investors sold $500mn worth of Russian stocks. This rotation was most likely driven by geopolitical developments. These tensions have eased, so we may expect foreign money to come back in May.
The number of brokerage accounts continued to grow fast and reached 11.7mn (+623,000 over the month).
On the stock level, statistics suggest that retail investors were selling Nornickel and buying Sber and Lukoil. In the portfolio of the 10 largest stocks, the weight of Nornickel fell 2.4 pp, while the weight of Sber commons and prefs went up by 3.0 pp and 0.9 pp, respectively. Lukoil's weight was up 1 pp.
107 RUSSIA Country Report June 2021 www.intellinews.com