minimize the investment risks associated with these changes, and, as a result, ensure
the stability and predictability of investment activity and its results. In addition, if we
talk about trust in a specific financial market institute, then those who hold investment
management at an appropriate level, or whose investment strategy is well-defined and
outlined, are those who take a better position on the market. For institutions of the
financial market, the importance of the role of investment strategy manifests itself in
various aspects of its implementation, namely in [5, p.221]:
- specification of the investment objectives of the investor-institute on the basis
of the ratio of "income / risk" and the mechanism for their implementation;
- the possibility of a thorough evaluation of investment opportunities in the future;
- specification of perspectives on means of formation, volume of investment
resources of the institute and opportunities for active maneuvering them;
- disclosure of the possibilities of providing prompt response to changes in the
external and internal environment that open the prospect of new investment
opportunities of the institute;
- taking into account possible options for the positive and negative changes that
will take place in the future in the financial market, on the investment opportunities of
the investment institution;
- reflection of comparative advantages of investment activity of the institute in the
financial market in comparison with its competitors;
- ensuring a close relationship between strategic, current and operational
management as a whole investment activity of the institute, and the formation (use) of
its investment potential in particular;
- formation of a criterial assessment of the choice of financial instruments for the
formation of an investment portfolio;
- ensuring the effective use of the investment potential of the institute.
From the point of view of strategic management, the investment strategy is an
effective tool for managing the investment activity of investment institutes in the
future, which is subject to the goals of the institute's development in the context of
macroeconomic changes that take place under the influence of the system of state
regulation of market processes and financial market conditions. Therefore, the process
of forming an investment strategy, identifying the factors influencing its development
and implementation, but also its effectiveness, is important for investment institutes,
regardless of their status in the financial market.
It should be noted that traditionally investment strategies are divided into two
generalized types: active and passive. Such a division is appropriate, since it reflects
the desire and ability to generate income on the basis of various actions (or inaction)
on the part of the investor. Thus, for corporate and institutional investors, an investment
strategy that includes the selection of various instruments, investment projects,
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