The proposal by the JPMorgan Russian Securities trust to expand its investment universe outside of Russia “makes sense” according to various experts, but whether or not shareholders will get on side with the idea is uncertain.
Just over eight months since Russia invaded Ukraine and global economic sanctions effectively froze all Russian assets, the JPMorgan Russian Securities board is attempting to outmanoeuvre the restrictions by amending the investment objective. This will see the trust, which at this point is 100% invested in Russian domiciled companies, access stocks 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. This proposal was hi...
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