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On Issue of a Management Company as a Participant in the Securities Market

The need for inflow of additional investment resources into Russias economy in order to finance infrastructural and social projects demand improving the existing mechanisms of accumulation and investment of free monetary funds of the population and economic entities. The foreign experience testifies that to achieve this goal it makes sense to develop the corresponding institutions of the financial market. An important role in mobilizing longterm resources is called upon to be played by the funds controlled by the intermediaries of the security market - the management companies. In view of this, the topical items for the study are the issues of management companies functioning and identification of their place in the structure of the security market. An analysis of the Russian legislation and economic literature testifies that the issue of inclusion of the management company into this or that group the security market participants needs an upgrade. The article shows that the management company is an institutional investor of the security market, which functions on the qualified basis and is classified as a group of collective investors.