Сутність і роль інвестиційних фондів і компаній

Abstract

The purpose of the publication is to closer define the essence, role and peculiarities of investment funds and companies. The analysis of researches on the subject of the article identified the lack of clearness concerning the issues of essential differences between the investment fund and the company. The article considers the definition of the studied concepts according to dictionaries and practical examples of the operating investment companies and funds. The peculiarities of the latter and types of specialization of investment funds are specified. There is a fundamental difference between these economic entities, which is that the investment company is a commercial organization with minimal restrictions and maximum freedoms for the implementation of investment and related activities for profit. An investment fund is either a specialized part of such a company or is a public institution with the presence of restrictions that are stipulated by the policy of its founders. It is proved that an investment company can often be both a holding company with a wide range of related activities, harmoniously combined with investment: insurance, consulting, brokerage, banking, credit and depository activities, accounting, etc. In some countries, legal restrictions do not allow a successful combination of investment and other activities, for example, insurance. It is determined that the evolution of investment activities in the global stock market causes a gradual loss of competitiveness of mutual investment funds. Instead, ETF funds have long taken their place. In the global financial market there is a limited number of investment companies – founders of major ETF funds with a significant level of competitiveness, which makes problematic and (or) inappropriate entry into the market of new funds. In addition to accumulating temporarily free funds and professional management of investment resources, the important role of investment companies and funds is the formation of the infrastructure of complementary pension provision.