JP Morgan Russian – pronouncing they gained’t factor stocks – nonetheless vote No to the whole thing. – Deep Price Investments Weblog






JP Morgan issued an RNS nowadays pronouncing there are “recently no plans to factor stocks or lift capital”.

I don’t like using the phrase ‘recently’, as, in the event that they write the plans the next day its technically now not an unfaithful observation.

I merely don’t believe them and assume the fund will have to be delisted, surplus money paid out and frozen till any such time as we will be able to get our cash out at an inexpensive valuation – which I’d outline as MOEX +/- 10%. I’m very conscious this may increasingly take a number of years however am not anything if now not affected person. There’s some motion amonst shareholders to place ahead a answer restricting their skill to get rid of Russian shares – if one thing like that is proposed I can make stronger it.

There’s no merit to creating this a reside funding automobile with 41p/proportion reside property, coupled with an unvaluable (in impact) quantity of Russian inventory.

This merely isnt a wise plan and will have to nonetheless be voted in opposition to on the earliest alternative.

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