Antanta Capital Investment Group has become the first market maker to support quotations of 4 shares of mutual funds on the MICEX Stock Exchange. Before now, market makers have performed their functions with regard to stocks and bonds only. Market makers help to improve the liquidity of the exchange-based market for shares of mutual funds, narrow the margins of fluctuations of their quotations and improve the attractiveness of investments in stock assets for individual investors. The work of market makers will also help to limit the possibilities of price manipulation and ensure better protection of investors trading on the exchange-based stock market.
Under the agreement with the MICEX Stock Exchange, Antanta Capital Investment Group has received the status of the official market maker on the MICEX SE and undertakes to enter orders and support bilateral quotations of a number of securities in the course of the trading session in the main trading mode (except for the quotation break).
Securities supported by Antanta Capital:
- Shares of index interval fund MICEX Fund under the management of Pioglobal Asset Management (state registration number of the rules of trust management 0084-59831742-1, trading code RU0002559873);
- Shares of open-end investment fund Equity Fund under the management of Pioglobal Asset Management (state registration number of the rules of trust management 0006-45139385-19, trading code RU0006631280);
- Shares of open-end investment fund Balanced Fund under the management of Pioglobal Asset Management (state registration number of the rules of trust management 0020-47357428-16, trading code RU0006631272);
- Shares of open-end investment fund Bond Fund under the management of Pioglobal Asset Management (state registration number of the rules of trust management 0003-45047743-18, trading code RU0006631264).
According to the CEO of the MICEX Stock Exchange Alexei Rybnikov, the organization of exchange-based trading in shares of mutual funds gives investors more opportunities and helps to improve the liquidity of shares, as it will be possible to sell them at any time and not only in the course of their placement and at the buy-out time set by the management company. International experience shows that individual investors regard mutual funds as an important investment vehicle, as they enable to minimize risks by diversifying investments, are strictly controlled by the state and enjoy tax incentives.
Antanta Capital is the first market maker which has undertaken to support quotations of shares of mutual funds and level up their price fluctuations. This has been the result of development of mechanisms helping to increase the liquidity of shares of mutual funds as well as second- and third-tier stocks. In November 2006, in order to improve the attractiveness of the exchange-based market for shares of mutual funds, the MICEX SE introduced the status of exchange specialist (a participant in trading which is nominated by the issuer and has an exclusive right to mark prices in the trading system). The first results of the project proved to be quite encouraging. Today, there are three exchange specialists supporting quotations of shares of six mutual funds.
The MICEX SE expects more participants in trading to become market makers for shares of mutual funds.
Antanta Capital Investment Group has been a participant in trading on the MICEX SE since 26 November 2004. The Company holds all appropriate licenses, given by the RF Federal Service for Financial Markets, to perform broker’s, dealer’s and depository activities, as well as securities management activities on the securities market. Antanta Capital is a fast growing company. It is among forty leading operators of the Russian stock market. Antanta Capital demonstrates good liquidity of assets and adequacy of capital.
Pioglobal Asset Management, specializing in investment management, was established over 10 years ago. The Company offers a balanced line of financial products, securing the reliability of investments and the high quality of service. In 2002 and 2003, RBK News Agency rated Pioglobal Asset Management as the best investment company. In 2004, the Company won the Financial Olympus Prize as the best management company. Pioglobal Asset Management manages three open-end investment funds - Bond Fund, Equity Fund and Balanced Fund – and two interval mutual funds: MICEX Fund and Corporate Investments Fund.
