JPMorgan Russian Securities seeks move away from pure Russian equities

Fees would be reinstated

In the face of “significant uncertainty” over the length of time economic sanctions against Russia will remain, the board of the JPMorgan Russian Securities trust has proposed out an amended investment objective to step away from pure Russian equities.

The changes would allow the trust to invest in equities domiciled in central, eastern and southern Europe (including Russia), the Middle East and Africa, including those markets that are considered as emerging markets according to the S&P Emerging Europe, Middle East and Africa index. In a London Stock Exchange notice made today (27 October), the board said that because of "the inability to dispose of these under the current sanctions and restrictions, the company also needs the flexibility within its new investment objective and policy to continue to hold Russian securities". These c...