Female investors in the stock market: a look from Russia

Abstract

With the growing impact of the Russian stock market on economic processes in the country, there arises a need for detailed and systematic information on various social aspects, including the existing and projected number of investors, their gender ratio, social characteristics and investment behaviour. The article presents data on the gender ratio of private investors, as well as detailed characteristics of Russian females investors and their investment strategies. It is shown that the Russian stock market is moving towards gender balance. The largest number of females investors belongs to the age of 25-34. Most of them live in cities and work as employees of private companies. One half of female investors have an average monthly income per family member of less than USD 350. Nowadays, 25 years after the Russian privatization, about one third of all females investors have a negative opinion about this process and its results. Russian females investors have gone through the following investment strategies: about 40% have stopped operations, becoming formal investors; about one third have opened individual investment accounts; the others are divided into the following categories: investors, inactive traders, intraday traders and scalper traders. There exist at least two problems, the solution of which will contribute to the development of the market and increase the number of private investors. They include a limited number of issuers whose shares are available on the organized Russian stock market and the lack of offers to invest in real projects.