Mari dzekudyidzana inzira yakachengeteka uye inobatsira yekudyara uye kuita mari inobatsira pakuenzanisa nemamwe marudzi ekudyara. Kunyanya maringe nekutenga nekutengesa zvikamu pamusika wemasheya, ayo ari mashandiro anotakura njodzi yakawanda nekuda kwekushanduka kwemisika yemari. Kunyangwe ivo vari zvakare kuratidzwa kumatambudziko madiki ayo anogona kutanga mune portfolio yeadiki nepakati varimi. Izvo, shure kwezvose, chigadzirwa chemari chine marambi ayo nemumvuri, kunge angangoita ese aunowana panguva ino.
Izvo zvakabatana zvinhu zvekudyara pamwe (mari nemakambani) zvakasangana muna Kukadzi kuwedzera kwemamiriyoni e3.478 euros uye yakamira pamamirioni 463.352, izvo zvinomiririra kuwedzera kwe0,6% zvichienzaniswa naJanuary, maererano nedata razvino rakapihwa neAssociation of Collective Investment Institutions uye Pension Funds (Inverco). Mumwedzi miviri yekutanga yegore, huwandu hwesimba hwakawedzera ne1,8%. Iko huwandu hweakaundi anotora chikamu akamira pa14.836.455, iyo inomiririra kudzikiswa kwe0,4% kana ichienzaniswa naDecember 2018.
Kukadzi yakaenderera mberi nemafambiro akanaka aNdira uye pakave nekuwongorora mumisika yemari, iyo yakabvumidza mari yenyika yekudyara kunyoresa mavambo akanaka egore mukubatsira kwezvakaitika kare. Nekudaro, iyo vhoriyamu yemidziyo yakasangana nekuwedzera muna Kukadzi kwemamiriyoni e2.373 euros (0,8% kupfuura mwedzi wapfuura), uye yakamira pamamirioni 264.491 emamiriyoni.
Mari yekudyara: kukura
Kukura kwehuwandu hwezvinhu kunokonzerwa nekuita kwakanaka kwemisika munguva iyi, yakabatsirwa nehunhu hwekuyerera, uko mushure memwedzi yakati wandei yekubhadhara kwakadzosera maitiro emwedzi yapfuura, zvichiratidza mhedzisiro yakanaka kusvika pamamirioni makumi mana Maeuro ekubhadhara mumambure mumwedzi. Muna Kukadzi, zvese zvikamu zvakasangana nekuwedzera muquity yehukuru hwakakura kana hudiki, kusara kwemari dzenyika uye kudzoserwa kwakakwana, kwakaremerwa nerudzikunuro rwakanyorwa mumapoka avo, nekuti kuita kwavo nekudzoka kwaive kwakanaka.
Vakatungamira iyo kukura kwehuwandu yakatarwa mari yemari nemari yemari, pamwe nekuwedzera kwemamirioni mazana masere nemakumi masere nematatu. Yakagadziriswa mari inokwanisa kubhadhara kudonha kunyoreswa muna Ndira uye kunounganidzwa mumwedzi miviri yekutanga yegore kukura kwekuenzana kwemazana mashanu emamiriyoni emamiriyoni euros. Kune rimwe divi, iyo yemari yakanyoreswa kukura kweanosvika 843 mamirioni euros mu512. Iko kushanduka kweiyo equity yemari yakavhenganiswa yaive zvakare yakanaka munguva. Nekudaro, huwandu hwakavhengana hwakakura ne930 mamirioni euros uye yakavhenganiswa mari yakatarwa yakaita saizvozvo ne2019 mamirioni euros. Mune iro rese regore ivo vanounganidza kukura kwemamirioni 263 emamiriyoni.
Mamiriro emari yepasirese
Mari yepasi rose yakaitawo zvakanaka muna Kukadzi uye yakawedzera zvinhu zvavo nemamirioni 525 emamiriyoni. Mugore rose, mumhedziso, icho chimwe chezvikamu izvo kuwedzera kukuru kunowedzera, iine 1.663 mamirioni euros kupfuura muna Zvita 2018. Ivo vanongopfuurwa neepasirese mari yemari, pamwe nekukura kwehuwandu hwezvinhu mumwedzi miviri yekutanga yegore ingangoita 2.089 mamirioni euros.
Asi, mhedzisiro yekudzosera mari midziyo yavo yakadzikiswa munguva (509 mamirioni euros kushoma) uye mu2019 vakatounganidza kuderera kwemamiriyoni 591 emamiriyoni. Zvakare nemari yenyika, iyo yakanyoresa kudzikira kudiki mu equity muna Kukadzi wemamiriyoni gumi nemana emaeuro, kunyangwe mumwedzi miviri yekutanga yegore yakasangana nekukura kwehuwandu hwehupfumi hwe 14 mamirioni euros (274% kupfuura muna Zvita 4,4 ).
Kunyorera uye kudzoreredza
Kutevera simba raNdira, varimi vacho vakadzora zvinoitika zvemwedzi yapfuura maererano nekuyerera, pamwe zvinokurudzirwa nezwi rakanaka remisika mumwedzi miviri yekutanga yegore. Nekudaro, mari yekudyara inovhara Kukadzi na yakanaka net kunyoreswa yemamiriyoni zana nemakumi maviri emadhora.
Iwo mafungiro akato simbisa mwedzi wapfuura wekuwedzera kwenjodzi inodzivisa mumubatanidzwa wenyika, mushure me kusagadzikana kukuru mumwedzi wekupedzisira we2018, yakaratidzirwa zvakare muna Kukadzi, ichigadzira kuyerera kwakanaka mumapoka anochengetedza zvakanyanya. Nekudaro, iyo mari ine yakanyanya kunyoreswa mumambure mumwedzi yaive iyo yemari ine 842 mamirioni euros. Ivo zvakare vanotungamira iyo mambure inopinda mu2019 ne925 mamirioni euros.
Wedzera mumari yakavimbiswa
Mari dzinovimbiswa dzinotevera ine 253 mamirioni euros emambure kuyerera kupinda muna Kukadzi. Passive manejimendi mari zvakare yakave nekunyorera kwakanaka munaFebruary (134 mamirioni euros) uye yakaunganidza angangoita mamirioni makumi matatu nemaviri emamiriyoni emamiriyoni ekupinda mugore. Mari yakavhenganiswa zvishoma yakawedzera vhoriyamu yavo yemidziyo ne327 mamirioni euros. Mari dzepasi rose dzakasanganiswa dzakasarudzika dzakanyoreswa yakanaka net inopinda munguva (7,5 mamirioni euros), iyo yakakwanisa kudzikisira kubuda kwemambure emari yakasanganiswa uye yakavhenganiswa Euro yakamisirwa mari. Mugore rose zvaro, ivo vanounganidza mambure ekubhadharisa anosvika mamirioni e274.
Kune rimwe divi rinopesana, mari yeeuro equity (kusasanganisira Spain) uye avo vane mhedzisiro yekudzoka vakatungamira mambure kubuda kwemwedzi, ine 572 uye 302 mamirioni euros, zvichiteerana. Aya mapoka zvakare ndiwo ane akanyanya kudzorerwa mambure mumwedzi miviri yekutanga yegore aine 487 uye 523 mamirioni euros, zvichiteerana.
Kubatsira kwezvigadzirwa izvi
Pakati pemwedzi waKukadzi, misika yemakero yakave nehunhu hwakanaka uye yakavhara mwedzi nekutarisazve zvichienzaniswa naJanuary mune mazhinji epasi indices. Ibex 35 inonyoresa kudzoka pamwedzi 2,4, zvichienzaniswa ne4,4% yeEurostoxx kana ingangoita 3% yeS & P 500. Mumisika yemari yakatarwa, IRR ye ChiGerman chemakore gumi chisungo chakadonha zvishoma pasi 0,16% kubva pa0,18% munaNdira, pamwe nezvirimwa paSpanish yemakore gumi chisungo chakadonha kusvika 10% kubva pa1,26% munaNdira.
La ngozi yengozi muSpain yakavhara pa100 bps (105 bps muna Ndira). Iyo mwero wekutsinhana weeuro inopesana nedhora yakavharwa pa1,14, iyo inomiririra kudzikira kwe0,6% yeeuro ichienzaniswa nezuva rekupedzisira raNdira. Muchirevo chechinyorwa ichi, mari dzekudyidzana dzakanyoreswa kudzoka kwakanaka kwe2019% munaKukadzi 0,91, kuitira kuti mari inowanikwa yegore imire pa3,26%, iyo inomiririra kutanga kwakanaka kwegore kusvika Kukadzi wenhoroondo dzakateedzana. Anenge mapoka ese akavhara mwedzi zvakanaka, kunyanya avo vane mukana wakakura wekutengesa. Nekudaro, equities muUnited States yakanyoreswa iyo yepamusoro purofiti mumwedzi (3,4%) uye yakaunganidza kudzokororazve kweanopfuura 11% mugore.
Nhoroondo yemubatanidzwa
Nezve paramende iyi, kuona kukosha kwezvigadzirwa zvemari izvi zvinogamuchirwa nevashambadzi vadiki nepakati, zvakakosha kuti uzviise panguva ino. Nekuti zvirokwazvo, iyo nhamba ye vagovani account Mune mari yenyika yekudyara, yakawedzera zvishoma munaKukadzi (vatori vechikamu 8.588 kupfuura mumwedzi wapfuura), ndokuisa huwandu hwayo pavanegumi ne11.164.033.
Iko kunonyanya kukoshesa data iro chidzidzo ichi chisina kupa pane hunhu hwevashambadziri mune mutual mari ndiko kuti kwavo kufambira mberi kukura. Hazvishamisi kuti nyika mari yekudyara mari inonyoresa kutanga kwakanakisa kwegore munhoroondo dzakateedzana, nekudzoka kwakawedzera kwe3,3% mumwedzi miviri yekutanga. Mushure mekudonha kwakakosha mukuita purofiti, kunoenderana nemwedzi miviri yekupedzisira yegore rapfuura. Kwavakanyoresa kurasikirwa kukuru mukuita kwavo, zvichikanganisa mhando dzese dzemari dzekudyara.
Kuongorora muEurope
Sekureva kwedata kubva kuEFAMA, huwandu hwehupfumi hweEuropean Collective Investment Institutions hwakamira pa15,16 trillion euros muna Zvita 2018, iyo inomiririra kudzikiswa kwe5,5% mukota yekupedzisira yegore (16,03 bhiriyoni munaGunyana 2018). Muna 2018, equity yawa 3,0% kubva pamamiriyoni gumi nemashanu emamiriyoni emadhora muna Zvita 15,62. Ireland ndiyo yega nyika yakawedzera huwandu hwezvinhu mukati megore (2017%). Ndichiri muUnited Kingdom neDenmark kuderera kukuru kwepfuma kwakanyoreswa mu1,1, nekudonha kweanopfuura 2018%, pamusoro peiyo yakazara yeEurope (-9%).
Nemhando yemidziyo, 27% yehuwandu hweefaeti yeEurope yakaunganidzwa muequity, ichiteverwa nemari yakatarwa uye yakavhenganiswa, ne23% uye 21%, zvichiteerana Kugovaniswa kwemidziyo neboka rekudyara muEurope kwakasiyana kwazvo pakati penyika dzakasiyana. Nekudaro, semuenzaniso, uchiri muUnited Kingdom kana kuSweden kudyara muzvikwereti zvinokwana kuita makumi mashanu muzana muzana, muItaly haina kusvika 50%.
Sekureva kwedata kubva kuEFAMA, huwandu hwehupfumi hweEuropean Collective Investment Institutions hwakamira pa15,16 trillion euros muna Zvita 2018, iyo inomiririra kudzikiswa kwe5,5% mukota yekupedzisira yegore (16,03 bhiriyoni munaGunyana 2018). Muna 2018, equity yawa 3,0% kubva pamamiriyoni gumi nemashanu emamiriyoni emadhora muna Zvita 15,62. Ireland ndiyo yega nyika yakawedzera huwandu hwezvinhu mukati megore (2017%).