Russia ETFs plunged after the country's army invaded Ukraine, and sanctions effectively froze the funds in March.
"The Funds' inability to buy, sell, and take or make delivery of Russian securities has made it impossible to manage the Funds consistent with their investment objectives. The Funds will not engage in any business or investment activities except for the purposes of winding up their affairs," VanEck said in a release on Wednesday evening.
The firm has suspended redemptions of the funds, pursuant to an order from the Securities and Exchange Commission, while it liquidates the positions. VanEck said it plans to distribute any proceeds from the liquidation to investors on roughly Jan. 12, 2023. The RSX fund had more than $1.3 billion in assets under management at the beginning of 2022, according to FactSet.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
New sanctions starting to bite Russia's economy as Moscow admits deficit impactThe latest round of Western sanctions against Russia over its invasion of Ukraine are beginning to pinch the country's economy, economists have suggested.
Lire la suite »
Moscow PD Gets Access To Counseling Amid Murders, Patrols Continue Around CityMoscow police have gained access to counseling as pressure to solve the case of the slain college students increases.
Lire la suite »
Idaho murders revive memories of ‘forever scar’ left from 2015 Moscow shooting spreeThe Idaho murders have brought unwelcome flashbacks for one survivor of a 2015 triple homicide that left an Arby's manager dead in downtown Moscow, according to a report.
Lire la suite »
Turkey, Syria Defense Ministers Meet in MoscowThe gathering was the first formal, high-level meeting between the two Middle East governments since the eruption of a civil war in Syria in 2011.
Lire la suite »
Idaho murders: Moscow police debunk TikTok theory implicating associate professor in stabbingsPolice investigating the murder of four college students in Idaho spoke out against an online theory that an associate professor at the school had something to do with the case.
Lire la suite »
Russia dismisses Ukraine peace pitch with ‘denazification’ demandMoscow rebuffed Ukraine’s proposal for a peace summit by demanding that Kyiv meet its requirements of “demilitarization” and denazification” or “the Russian army will …
Lire la suite »