PREREQUISITES FOR THE CREATION AND FEATURES OF THE ORGANIZATION OF HYBRID INVESTMENT FUNDS AND COMPANIES

The article clarifies relevance of research on the creation and development of hybrid investment funds and companies, which is due to the importance of the evolution of the stock market of Russia. The conditional division of investment funds and companies into classic and hybrid ones is proposed. The author’s view on their essence is presented. An important feature of hybrid investment funds and companies is the possibility of their creation on the basis of organizations, mainly industrial enterprises with a long production and financial cycle, whose main activity is not related to financial investment. Hybrid investment funds and companies can be created to ensure the interests of their founders, namely, for the preservation of capital in a high level of inflation through effective investment. This does not involve a wide range of small investors, and such institutions are not highly professional participants in the stock market. The hybrid feature of investment funds and companies is that at first the investment activity for their founders is secondary, but only over time can become the main activity due to changes in the structure of income of the organization. Prerequisites for the creation of hybrid investment funds and companies are considered. The main ones are the high level of inflation in the country and the evolution of the world stock market, which allows even industrial enterprises to make effective investments without the involvement of professional managers. However, the possibility of creating hybrid types of them, including in the future, can also be considered as an evolution of the relevant market, which will allow creating more stable and effective forms of its key institutions. Despite the significant prerequisites for the creation of hybrid investment funds and companies, nowadays there is almost no practice of their creation in the country, which allows stating the presence of untapped reserves for the development of both the stock market and the activity of enterprises with a long production and financial cycle.

hybrid investment fund, hybrid investment company, S&P-500 stock index, average investor, index ETFs, enterprises with a long production and financial cycle, stock market, investments, inflation, capital

Morhachov I. V. Prerequisites for the creation and features of the organization of hybrid investment funds and companies. Business. Education. Law, 2023, no. 1, pp. 29—34. DOI: 10.25683/VOLBI.2023.62.509.