JP Morgan issued an RNS right this moment saying there are “at the moment no plans to concern shares or increase capital”.
https://www.londonstockexchange.com/news-article/JRS/update-on-proposals-for-new-investment-objective/15704505
I don’t like the usage of the phrase ‘at the moment’, as, in the event that they write the plans tomorrow its technically not an unfaithful assertion.
I merely don’t belief them and suppose the fund ought to be delisted, surplus money paid out and frozen till such a time as we will get our cash out at an inexpensive valuation – which I’d outline as MOEX +/- 10%. I’m very conscious this will take a number of years however am nothing if not affected person. There may be some motion amonst shareholders to place ahead a decision limiting their capability to get rid of Russian shares – if one thing like that is proposed I’ll assist it.
There is no such thing as a benefit to creating this a stay funding automobile with 41p/share stay belongings, coupled with an unvaluable (in impact) quantity of Russian inventory.
This merely isnt a smart plan and may nonetheless be voted towards on the earliest alternative.
Revealed by
