FSFR allowed investing in art

The Federal Financial Market Service submitted a draft order for the creation of a new category of share investment and joint -stock funds - the Foundation of Artistic Values ​​for discussion.

The assets of such funds, according to the document, may include paintings and drawings, sculptures, including reliefs, icons, postage stamps, engravings, glass art products, ceramics, wood, metal, bones or fabric, photo-, phono, film, video archives, old books, rare manuscripts, unique musical instruments, old coins, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders, Orders. Medals, printing and so on, reports Finmarket .

Until now, there were no similar funds in Russia, although there were several dozen in the world. On the eve of the financial crisis, some Russian management companies spoke about the intention to create Pyths of artistic values ​​in order to offer investors a new tool for investing money.

“We thought about the funds of artistic values, about wine foundations,” said Sergey Mikhailov, chairman of the board of directors of the capital investment group. But now, he admitted, this issue is not relevant, since management companies are more concerned about the opportunity to earn in crisis conditions. The profitability of the art funds in foreign countries against the backdrop of the crisis has decreased.

But Mikhailov estimates the potential amount of funds that can be attracted to the artistic values ​​funds at hundreds of millions of dollars.

Kommersant experts believe that such a product in Russia will only be in demand among single customers.

“Multimillioners can directly invest in art objects and they will pay their assets to such funds to optimize taxation,” said Mikhail Khabarov, general director of the Alfa Capital management company.

The risks of investment in such funds are quite high and are difficult to evaluate, experts say. “Arts of art does not have a classic market price and therefore it is difficult to determine profitability, resolve the issues of costs - remuneration of the manager, the issue of storage, accounting, payment of the expert’s work, the cost of insurance,” explains Pavel Teplukhin, chairman of the board of directors of the Troika Dialog management company.

“Such assets are very low -lifting and in order to obtain profitability, you need to invest for at least five years,” Khabarov summarizes.