Features of collective investmentof real estate housing development in the region

This paper analyzes the characteristics of the organization process of real estate housing development financing in Russia during 1990-2010 years. The role and place of collective investment institutions in housing financing in the region is defined. An author's interpretation of the concepts of the process of collective investment schemes and collective investment institutions is presented. The classification of collective housing investment institutions is substantiated. The role and place of particular groups or types of collective investment institutions in the financing of housing was examined. The function of investment funds in the financing of the investment activity of the regions was determined. The structure of domestic and foreign investment funds was compared. Domestic and foreign experience of housing financing with a particular financial institution investment — mutual funds — was eamined. The role and functioning of specific closed-end mutual funds investing in the housing is defined. Factors enhancing the processes of collective housing investment with closed-end mutual funds were investigated.