Turnover on the Troika Dialog – Index RTS Standard, an open-ended mutual fund for Russian investors, totalled RUB300.6m on its first day of trading, while the number of deals totalled 227.
The listing of the new instrument on the RTS Standard market represents the first step by RTS in promoting exchange-traded funds in Russia.
“The launch of the fund proved very successful, investors greeted the new product with great enthusiasm,” says Grigory Isaev, head of the futures trading group at Troika Dialog.
“While during the beginning of the day investors were clearly just sizing up the new instrument, around mid-day market participants noticeably increased their activity. By the end of the day, trading volumes had reached USD10m, meaning an outstanding result. According to our plans, over the course of the next month, daily turnovers on the fund Troika Dialog – Index RTS Standard should surpass USD10m – the average daily turnover of futures on the RTS Standard index, so even on the first day of trading in the fund’s shares we fully reached one of the key indicators.”
