UDC 330.4: 330.46
Authors
Varvara D. Nodel,
Master’s degree student at the Financial
University under the Government
of the Russian Federation,
Moscow, Russia
Abstract
Purpose of work. Due to the fact that the process of production, distribution and consumption of goods
and services in the economy is accompanied by the emergence of free cash resources of enterprises and
the population, all aspects of the system of economic relations related to borrowing, issuing, buying, selling
securities, precious metals, currencies and other investment instruments, portfolio management should be
taken into account. The purpose of the research is to study the theoretical aspects of managing a portfolio of
securities and identify possible risks, determine the strategy and forecast profitability.
Materials and methods. The objectives of the research are to study the development of the securities
market within the Russian economy in the current reality, the formation of a securities portfolio, and the application
of key theoretical provisions of the Markowitz portfolio theory.
Results. Based on the results of the study, the impact of the COVID-19 coronavirus infection on the development
of the financial market in terms of investing in securities was analyzed, the key provisions of the
Markowitz portfolio theory management were considered, and its advantages and disadvantages were determined. It was found that the effectiveness of managing a portfolio of securities depends on a competent approach
with specific calculations on the projected return and the occurrence of risk, which can be carried out
by applying the Markowitz portfolio theory in combination with a diversification strategy and taking into account
risk-free and risky financial assets.
Conclusion. Optimization of the securities portfolio is an important point in investment management, since
it does not involve the chaotic inclusion of tools to increase their number, as in the diversification strategy, but
the compilation of the portfolio on the principle of riskiness.
Keywords
securities, portfolio of securities, Markowitz portfolio theory, diversification strategy, portfolio investment, profitability.
