BlackRock waives fees on suspended funds with 'significant' Russian exposure

'Extraordinary circumstances'

Fund giant BlackRock has waived the fees on three funds with “significant” exposure to Russia that have been suspended due to the “exceptional” circumstances of Putin’s invasion of Ukraine.

The funds - which include a fund focusing on emerging European countries as well as Eastern European and Russia-focussed ETFs - will remain suspended until further notice while BlackRock evaluates the situation. BlackRock Global Funds (BGF) Emerging Europe fund took the decision to suspend the valuation of all share classes from the fund in a bid to "protect the interests" of investors in the fund. In light of this the firm has waived its management fees and the fund's annual service charge from 1 March.  Franklin Templeton waives management fee on Eastern Europe fund The firm stat...