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March 1, 2022updated 23 Mar 2022 1:04pm

Asset managers freeze funds exposed to Russian equities as market plummets

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Several asset managers, including JP Morgan and Dankse Bank, have frozen their funds exposed to Russian assets following sanctions due to the Russia-Ukraine war, reported Bloomberg Quint.

JPMorgan’s asset management unit told investors of the JPM Emerging Europe Equity fund that they would not be able to purchase or redeem shares in the fund.

JPMorgan said in a letter to investors of fund: “Due to the escalating conflict between Russia and Ukraine, local market trading conditions are not currently operating as they normally would do and accordingly, we are unable to manage the fund in accordance with the investment objective and policy.

“Given these current market conditions, and in order to protect the interests of existing shareholders, JPMorgan Funds Limited has suspended the JPM Emerging Europe Equity Fund.”

Danske Invest Management also announced it is suspending trading in its Eastern European fund in a bid to limit exposure to Russian assets.

In a similar move, Liontrust suspended dealing in the Liontrust Russia Fund, restricting investors from making purchases or redemptions in the fund until further notice.

The firm wrote in a letter to investors of the fund: “At the moment, Liontrust is unable to say how long the Fund will be suspended for.

“Liontrust will keep the suspension of the Russia Fund under continual review given it is such a rapidly changing situation and we will update investors as soon as we can.”

More asset managers are expected to freeze their funds with exposure to Russian equities as the US and European countries unleash a new round of sanctions on Russia for its continuing military attack in Ukraine.

New York-based Voya Financial warned its customers that its Russia-focused fund may freeze investments following increasing sanctions and the threat of further restrictions on Russia.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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