From Savings to Investments: Minfin Discusses Where Ukraine’s Capital Market Is Heading

The conversation featured Viktor Boichuk, Chief Commercial Officer of the investment company S1 REIT; Taras Kozak, founder and president of the Univer Capital investment group; and investment advisor Oleksandr Bondarenko. Representing different segments of the investment market, they compared their experience of working with private investors and their vision of the industry’s future.

Ukrainians are investing more actively, and the range of financial instruments is gradually expanding. What lies behind these changes, what opportunities they open up for private investors, and what is still missing for the market to develop further were the topics of an expert discussion on the YouTube channel of the Minfin portal.

One of the central topics was the shift in Ukrainians’ behaviour: from keeping cash in foreign currency and bank accounts to consciously building an investment portfolio. According to Taras Kozak, the availability of domestic government bonds (OVDP) through digital services played an important role in this shift. The ability to buy securities online helped people gain their first investment experience and start considering other instruments.

Today the choice is already wider: corporate bonds, as well as funds investing in real estate, land and energy projects. For private investors, the development of this market means the ability to spread their money across different assets, choose sources of income and build a portfolio in line with their own goals.

At the same time, the number of offerings alone is not enough. As Viktor Boichuk emphasised, the task of market participants is to create high-quality, transparent products and explain them in plain language. People should understand exactly what they are buying, where the income comes from and how they can get their money back. He also explained S1 REIT’s approach to expanding its fund line-up: offering different combinations of completed real estate and properties under construction to suit different investment strategies.

The participants paid particular attention to liquidity, that is, the ability to sell an asset when money is needed. Together with return and risk, it should be one of the key criteria for choosing an investment. Oleksandr Bondarenko added to this list the need to check the legal terms of the investment and the company’s business reputation.

Speaking about the outlook, Taras Kozak highlighted the potential of Ukrainians’ savings as a source of funding for business and economic recovery. Among the necessary steps, he named tax incentives for long-term investing and the introduction of individual investment accounts. These mechanisms were discussed as possible directions for change on which the market’s further growth will depend.

The practical takeaway of the conversation: start by understanding the instruments, invest regularly and diversify risks. The participants agreed that even an attractive asset should not become one’s only investment.

“Investing isn’t about the perfect moment - it’s about consistency!” Viktor Boichuk concluded.