for corporate and institutional investors in the financial market is the specification of
the period of its implementation. Of course, the primary, and, therefore, the main,
guideline for determining the period of implementation of the investment strategy is
the duration of the specified period of the general strategy of the development of one
or another institution-investor. After all, the investment strategy is characterized by a
clear subordination of the general strategy of the institute-investor, and therefore the
duration of its implementation cannot go beyond the defined limits of the strategic
planning period. However, in addition to the above mentioned guideline, the duration
of the investment strategy is also largely influenced by the degree of predictability of
the development of the state's economy in general and the financial market in
particular. With regard to the investment strategy of institutional investors operating in
the domestic financial market, which is marked not only by high levels of instability,
but also by high unpredictability, it is logical to outline the period of its implementation
not in the long-term, but in the medium-term perspective, that is, within 3-5 years .
Stage 2. Investigation of the factors of influence of external and internal
investment environments. In our opinion, the development of an investment strategy is
a labor-intensive, highly analytical process for the formation and use of the investment
potential of an institute-investor, which requires consideration of a large number of
factors of influence on investment activity and the interconnection between them. To
the main and most influential factors of the environment on the prospects of investment
activity by corporate and institutional investors in the financial market, we will mention
the following: political, economic and financial stability in the state; the formation of
the institutional foundations for the functioning of the financial market; level of
development of financial market institutions that are investment attractive for the
potential investment of corporate and institutional investors; the conditions of investing
in different financial market institutions (term, profitability, risk) are formed; the level
of income of households-potential individual investors in the financial market; the
existence of structures that would guarantee the rights of investors, such as the fund for
guaranteeing deposits of individuals, the institution of the financial ombudsman; the
availability of a wide range of financial instruments that turn to the financial market
and are attractive for investment, etc. Taking into account these factors will ensure
adaptation of the institute-investor to potential changes in the external investment
environment, and, therefore, will make it possible to forecast these changes and include
them in their investment strategy.
Stage 3. Determination of strategic investment objectives. In our opinion, the
choice of strategic objectives for the investment activities of investor institutions in the
financial market should be based on ensuring an increase in the return on investment
from the permissible level of investment risk. Therefore, the main objectives of the
investment activity of the institute-investor in the financial market can be: income in
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