The venture capital — is the term applied to designation of risky capital investment. The venture capital represents the investments in the form of issue of new stocks made in the new fields of activity connected with big risk. Venture capital is invested in the projects which are not connected among themselves counting on fast payback of invested funds.
After the description of formal parameters of a portfolio and its components it is necessary to describe all possible models of formation of a portfolio determined by input parameters which are set by the client and the consultant.
Costs for management of excessively diversified portfolio will not yield desirable result as profitability of a portfolio will hardly increase higher rates, than costs in connection with excessive diversification.
As it was stated above, at the second stage of formation of a portfolio the investor estimates the combination of risk and the income of a portfolio accepted for itself and respectively determines the specific weight of a portfolio of securities with various risk levels and the income. This task follows from the general principle which acts on stock market: than higher potential risk is born by a security, especially it has to have the high potential income, and, on the contrary, the more true the income, the is lower an income rate. This problem is solved on the basis of the analysis of the circulation of securities in stock market. Securities of the known joint-stock companies having good financial performance, in particular the big size of authorized capital are generally got.
Thus two approaches are possible: the heuristic - based on the approximate forecast of dynamics of each type of assets and the analysis of structure of a portfolio, and statistical - based on creation of distribution of probability of profitability of each tool separately and all portfolio in general.
In such conditions domestic investors will need the economic technologies developed and tested in the countries with long history of the advanced market relations. And one of such technologies is portfolio investment.
The active model of management assumes careful tracking and immediate acquisition of the tools answering to the investment purposes of a portfolio, and also fast change of structure of the share tools entering a portfolio.