Andrei Movchan built his business on Putin’s criticism
The Movchan’s Group community controls funds of wealthy Russians worthing over $100 million, and since the launch in 2016 it has attracted about 100 customers, Forbes reports. Particularly, it is noted that 65,000 people are subscribed on Facebook accout of Andrei Movchan, the founder of the company: the platform allows businessman to be heard while speaking about Putin’s policy. In December Movchan drew the attention of subscribers to the outflow of businessmen from Russia, and also noted the inefficient financing of organizations by the state.
In an interview with Bloomberg, the businessman said that his customers are his subscribers, who support his point of view, people who wish to stray from Russia.
He continues to adhere to his point of view despite the positive dynamics of the stock market. He argues his choice by the fact that he does not see long-term prospects in Russian stocks.
Movchan’s Group’s client base is franchise owners, former top managers. Movchan believes that franchisors have a large financial flow. He also notes that they want to keep up with conservative methods when choosing investment portfolios. The company offers two funds: the first works with short-term liquid debt, and the second selects low-risk investment portfolios. During the company’s activities, customers withdrew only $300,000 from the company’s turnover, and contribute about $30 million each year.
Movchan also said that he had never faced criticism from the authorities regarding his statements.