the form of dividends, interest, payments from profit; capital gain, which is the result
of the growth of the market value of investment assets; receiving current income and
capital gains. We also note that the formation of strategic investment objectives should
be consistent with the stages of the life cycle of the institute-investor and the strategic
objectives of its activities in general.
Stage 4. Formation of a set of alternative investment strategies. It should be noted
that before selecting a particular investment strategy, it is necessary to formulate a
certain set of alternative strategies for investment activity by the institute-investor in
the financial market and to analyze the feasibility of applying each of them under
certain conditions. Thus, the main requirements for the formation of a set of alternative
investment strategies include: targeting achievement of real interrelated goals; clarity
of the content and understanding of the necessity of applying a certain set (system) of
strategies; hierarchical nature, since it is possible to distinguish the overall strategy, the
main and security strategies (resource and functional) for each of the scalar decision-
making chains; orientation on the possibility of a certain compensation of interrelated
strategies due to different possibilities of their application at separate intervals of time;
reliability, which provides comprehensive justification, weighting of management
decision making; reflection of all processes of the institute-investor activity and their
interconnection; taking into account changes in the external and internal environment,
the priorities and content of individual strategies, and, if necessary, the transition to
back-up strategies; balance of equilibrium between profitable and cost strategies, basic
and compensatory, reserve. Thus, alternative strategies, having the same focus,
nevertheless offer different directions and opportunities for reaching the strategic goal.
Formation of alternative strategies increases the efficiency of the investor-investor
activity in the financial market, and a substantiated choice of a particular investment
strategy avoids additional risks in the process of implementing this strategy.
Stage 5. Selection of the directions of the investment strategy implementation. In
our view, this stage is appropriately detailed in two steps:
Stage 5 (a) - Estimation of the level of quality of investment potential formation
of the investor institution, which should include:
- first, zonal ranking of the level of quality of investment potential formation of
the institute-investor in the financial market, which in a generalized form, positions the
degree of potential possibilities of the institute to carry out investment activity;
- secondly, an integral estimation of the level of formation of investment potential,
which allows us to generalize in a single indicator a number of factors that are different
in content, units of measurement, weight and other characteristics.
It is precisely on the results of the evaluation of the quality level of the formation
of investment potential that the choice of the direction of the investment strategy of the
institute-investor is possible.
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