Еволюционни характеристики на колективните схеми за инвестиции в ценни книжа
Evolutionary Characteristics of the Collective Schemes of Investing in Securities

Summary/Abstract: The main goal of this article is the system analysis and the evolutionary characteristics presentation of the collective schemes for investing in securities. The research reveals the reasons for emerging and the main stages in the collective scheme’s evolution of the investing in securities. Two stages are differentiated – an initial stage, and a stage for establishing collective schemes for investing in securities of contemporary type. Described are the characteristics of the stages in which a regulating framework over the collective investment schemes’ activity, investing in securities is imposed and their imposition as basic subjects of the contemporary financial market. Some traditional understandings underlined in the financial theory regarding the historical development of the collective investment schemes are refuted.

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