Investment potential of non-state pension funds in Ukraine

Investment Management & Financial Innovations

Valentyna Tropina¹  Viktor Melnyk²  Tetiana Rybakova³  Natalia Yevtushenko⁴  Mariia Rippa⁵ 

[1] Doctor of Economics, Professor of the Department of Finance, Accounting and Taxation, Pereiaslav- Khmelnytskyi Hryhorii Skovoroda State Pedagogical University, Ministry of Education and Science of Ukraine;Doctor of Economics, Professor, Director, State Educational Institution, Educational and Methodical Center on Questions of Quality Educational, State Service of Education Quality of Ukraine;Ph.D. in Economics, Associate Professor, Department of Economics, Pereiaslav-Khmelnytskyi Hryhorii Skovoroda State Pedagogical University, Ministry of Education and Science of Ukraine;Ph.D. in Economics, Associate Professor, Department of Finance, Banking and Insurance, Pereiaslav-Khmelnytskyi Hryhorii Skovoroda State Pedagogical University, Ministry of Education and Science of Ukraine;Ph.D. in Economics, Associate Professor, Department of Finance, Educational and Scientific Institute of Finance and Banking, University of the State Fiscal Service of Ukraine, Ministry of Finance of Ukraine;

关键词: institutional investor;    investments;    pension;    private;    structure;   

DOI  :  10.21511/imfi.18(2).2021.07

来源: DOAJ

【 摘 要 】

World practice shows that non-state pension funds (NPFs) are not only a tool for supplementary pensions, but also a source of significant investment in the economy. This study aims at determining the investment potential of 65 Ukrainian NPFs currently functioning in the country. The analysis of Ukrainian NPFs has shown their insignificant role as an investment resource (the volume of their assets is 0.09% of GDP). At the same time, NPFs operate with significant funds (UAH 3.1 billion in 2019), but the lack of a developed stock market and effective financial instruments in the country narrows the opportunities for their investment activities. A study of the structure of NPF assets allocation showed that it is far from optimal in terms of investment portfolio diversification and is very conservative – almost 85% of invested NPF assets are government guaranteed securities and funds in bank deposit accounts. But in the context of tightening the requirements for disclosure of information on the activities of NPFs, promoting the stock market development, formation of reliable mechanisms to protect depositors’ pension savings,and formation of an effective investment portfolio, NPFs in Ukraine

【 授权许可】

Unknown