{"id":15875,"date":"2022-05-27T09:22:03","date_gmt":"2022-05-27T06:22:03","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=15875"},"modified":"2022-05-27T09:22:06","modified_gmt":"2022-05-27T06:22:06","slug":"invl-asset-management-is-liquidating-the-invl-russia-ex-government-equity-subfund","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-asset-management-is-liquidating-the-invl-russia-ex-government-equity-subfund\/","title":{"rendered":"INVL Asset Management is liquidating the INVL Russia ex-Government Equity Subfund"},"content":{"rendered":"\n
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INVL Asset Management has made the decision to dissolve (liquidate) the INVL Russia ex-Government Equity Subfund. Note that the sale, redemption and exchange of this fund\u2019s units have been suspended since 1 March<\/a> seeking to protect the interests of the subfund\u2019s participants. Following the decision to liquidate the fund, the sale, exchange and redemption of units of the fund is being terminated (definitively).<\/p>\n

\u201cOur fundamental objective is to safeguard clients\u2019 accumulated assets. The financial sanctions imposed in the Russian Federation due to the military aggression in Ukraine, the restrictions on the Moscow Exchange and the uncertainty in the region\u2019s financial markets make it impractical to continue the fund\u2019s activities. Moreover, the geopolitical situation caused by Russia’s military aggression against Ukraine is incompatible with our values, thus we have taken steps since the first day of the war to sever all business relations with Russia to the extent it is technically possible in the products we manage,\u201d INVL Asset Management CEO Laura Kri\u017einauskien\u0117 says.<\/p>\n

All the financial instruments in the INVL Russia ex-Government Equity Subfund\u2019s portfolio whose trading was not restricted at the time have been sold (approximately 43% of the fund\u2019s assets as per data for 25 February 2022), and the subfund\u2019s cash holdings amount to approximately EUR 930\u00a0000.<\/p>\n

In light of the current situation, it is difficult to reliably predict the possibilities or timing for realizing the subfund\u2019s remaining financial instruments in practice. For that reason, the decision has been made to conduct the distribution of the subfund\u2019s assets and settlement with investors in several stages.<\/p>\n

Plans are for the first distribution of the subfund\u2019s cash holdings to participants to be carried out by 31 August this year. Information about the distribution of remaining funds and the final dissolution of the subfund will be published on the website www.invl.com<\/a>.<\/p>\n

INVL will not apply the management fee set out in the rules of the subfund for the period following the suspension of the subfund\u2019s activities.<\/p>\n

Participants do not need to take any action on account of the subfund\u2019s dissolution. For smooth settlement, INVL Asset Management invites participants to check and if necessary update their payment account details. To do so, they should contact INVL Asset Management (if their units were purchased directly from the company or are held in custody by it) or their financial intermediary or custodian (if their units were purchased through a third party and\/or the participant\u2019s sub-fund units are held in custody there).<\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"

INVL Asset Management has made the decision to dissolve (liquidate) the INVL Russia ex-Government Equity Subfund. Note that the sale, redemption and exchange of this fund\u2019s units have been suspended since 1 March seeking to protect the interests of the subfund\u2019s participants.<\/p>\n","protected":false},"author":2,"featured_media":15872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-15875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"\nINVL Asset Management is liquidating the INVL Russia ex-Government Equity Subfund - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-asset-management-is-liquidating-the-invl-russia-ex-government-equity-subfund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Asset Management is liquidating the INVL Russia ex-Government Equity Subfund - Invalda INVL\" \/>\n<meta property=\"og:description\" content=\"INVL Asset Management has made the decision to dissolve (liquidate) the INVL Russia ex-Government Equity Subfund. 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