Lessons of sanctions for sustainable economic future of Russia

Gafurova, G. T.; Bondarеnko, Irina N.

doi:10.21202/2782-2923.2022.3.503-534

“…Значительная часть такого населения достаточно строго придерживается религии, что создает для них достаточно серьезные проблемы с точки зрения инвестирования капитала. Кроме того, Россия активно налаживает деловые связи с исламскими странами во многих сферах деятельности [24]. В этой связи актуальным становится развитие таких финансовых инструментов, которые могут привлечь средства мусульман на финансовые рынки.…”

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Actual Problems of Managing the Funds of Mutual Funds in Unstable Economic Conditions on the Example of JSC Uk Ingosstrakh-Investments

Gafurova,

Kovaleva,

Zakharova

et al. 2023

Vestnik of Kazan State Agrarian University

1

0

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One of the key trends in the financial market, which actively manifested itself during the pandemic and then under sanctions pressure, was the active development of collective investments. At the same time, the new operating conditions for management companies, associated with the blocking of foreign assets, provoked significant difficulties in providing financial services to clients. In the current conditions, there is an increasing need to assess the practice of functioning of mutual investment funds and create mechanisms to reduce the negative consequences of the sanctions burden for individual financial market entities. Based on an analysis of the operating conditions of the management company and an assessment of the efficiency of managing the funds of mutual investment funds, it was determined that the key problems in the activities of the management company are the lack of significant financial results in the management of mutual funds, as well as the suspension of the work of five funds, which resulted in a deterioration in the financial performance of the company. In particular, there was a reduction in the company's assets by a third, an increase in country and currency risks, as well as a significant increase (by 350%) in labor costs. Based on the results of the analysis, the authors formulated measures to improve the efficiency of the company, including the creation of a personnel policy management system to improve the efficiency of the fund, the implementation of a scheme for the settlement of frozen assets by transferring funds from frozen mutual funds to a closed fund, as well as the transition to passive strategies for managing mutual funds. A project for a fund focused on Islamic investments has been developed, the portfolio of which includes shares of companies included in the Moscow Exchange Islamic Investment Index. An assessment of the fund’s potential showed prospects for forming the value of the fund's net assets in the amount of 990 million rubles.

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Actual Problems of Managing the Funds of Mutual Funds in Unstable Economic Conditions on the Example of JSC Uk Ingosstrakh-Investments

Gafurova,

Kovaleva,

Zakharova

et al. 2023

Vestnik of Kazan State Agrarian University

0

View full text Add to dashboard Cite

One of the key trends in the financial market, which actively manifested itself during the pandemic and then under sanctions pressure, was the active development of collective investments. At the same time, the new operating conditions for management companies, associated with the blocking of foreign assets, provoked significant difficulties in providing financial services to clients. In the current conditions, there is an increasing need to assess the practice of functioning of mutual investment funds and create mechanisms to reduce the negative consequences of the sanctions burden for individual financial market entities. Based on an analysis of the operating conditions of the management company and an assessment of the efficiency of managing the funds of mutual investment funds, it was determined that the key problems in the activities of the management company are the lack of significant financial results in the management of mutual funds, as well as the suspension of the work of five funds, which resulted in a deterioration in the financial performance of the company. In particular, there was a reduction in the company's assets by a third, an increase in country and currency risks, as well as a significant increase (by 350%) in labor costs. Based on the results of the analysis, the authors formulated measures to improve the efficiency of the company, including the creation of a personnel policy management system to improve the efficiency of the fund, the implementation of a scheme for the settlement of frozen assets by transferring funds from frozen mutual funds to a closed fund, as well as the transition to passive strategies for managing mutual funds. A project for a fund focused on Islamic investments has been developed, the portfolio of which includes shares of companies included in the Moscow Exchange Islamic Investment Index. An assessment of the fund’s potential showed prospects for forming the value of the fund's net assets in the amount of 990 million rubles.

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Anti-sanction and sanction economic policy of Russia in 2022–2025. Part 1: Analysis and forecast of managing sanctions against Russia

Manushin

2023

RusJEL

3

0

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Objective: to study the packages of anti-Russian sanctions, to analyze measures to counteract sanctions, and to formalize the current and future sanctions policy of Great Britain, the USA, and the EU.Methods: the author uses such techniques of abstract-logical method as analysis, synthesis, deduction, induction, analogy, formalization, and forecasting.Results: based on the analysis of scientific literature, as well as opinions of experts and officials, three main approaches to the assessment of Russia’s sanctions policy were identified: macroeconomic, sectoral and regional. The packages of anti-Russian sanctions and counter-sanctions by Russia in chronological order were assessed. The effectiveness of anti-Russian sanctions in terms of their impact on the Russian economy was assessed. Current trends in the sanctions policy of the UK, the US and the EU were revealed. The following questions were answered: who is the main objective of the sanctions (Russia or the EU); whether China will be drawn into the sanctions war; whether the official objectives of anti-Russian sanctions will be achieved; and whether the strengthening of sanctions will lead to a hot geopolitical conflict. The prerequisites and motives for the EU entry into the sanctions war were determined; the influence of the EU economic problems on the duration of the sanctions war was revealed. Scenarios for the development of the EU relations with Russia were constructed and the terms of the sanctions war unleashed by the United States were predicted.Scientific novelty: it was determined that the anti-Russian sanctions after their fifth package became in many respects demonstrative. The situational response of the Russian authorities to the sanctions was large-scale, corresponded to the current situation, was carried out thoughtfully and effectively. It was revealed that the focus of the UK and the US sanctions shifted to the EU, as well as the prerequisites of the EU-China conflict. It was found that if the sanctions policy intensity is maintained, the EU economy may significantly degrade in the next 10-15 years.Practical significance: the given data and conclusions may help in formalization and correction of sanctions and antisanctions economic policy of Russia.

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Lessons of sanctions for sustainable economic future of Russia

Cited by 6 publications

References 13 publications

Actual Problems of Managing the Funds of Mutual Funds in Unstable Economic Conditions on the Example of JSC Uk Ingosstrakh-Investments

Actual Problems of Managing the Funds of Mutual Funds in Unstable Economic Conditions on the Example of JSC Uk Ingosstrakh-Investments

Actual Problems of Managing the Funds of Mutual Funds in Unstable Economic Conditions on the Example of JSC Uk Ingosstrakh-Investments

Anti-sanction and sanction economic policy of Russia in 2022–2025. Part 1: Analysis and forecast of managing sanctions against Russia

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