Jpmorgan Russian Securit... Share Discussion Threads

[smithie6] 02/3/2022 10:34

JRS
Yes, but. not. Gazprom ADR

JRS.
Bought some yesterday. JRS, not going well. !!

[honestmarty] 02/3/2022 10:32

Almost buying

[topazfrenzy] 02/3/2022 10:31

Is anyone here buying JRS yet at these levels?

[honestmarty] 02/3/2022 10:17

They do allow you to buy JRS.

[smithie6] 02/3/2022 10:10

Gazprom UK ADR

AJ Bell don't allow it to be bt in a SIPP account.

[honestmarty] 02/3/2022 09:59

Robizm

It is currently very easy to buy this equity on AJ Bell.

What the future holds for it however…..

[robizm] 02/3/2022 09:54

Impossible for the normal PI to buy. Gazprom adr is $0.08 but can’t buy

[loganair] 02/3/2022 09:42

Rick Rule from Sprott a few hours ago said about the Russian market that the best run and cheapest commodity stocks in the world have just got cheaper are now on a 'half price' sale and that he is now buying more.

[ceaserxzy] 01/3/2022 20:04

It all depends on how the war plays out. If it is short and Russia and Ukraine come to a negotiated settlement, Russia will then definitely can export their oil and gas, minerals, agricultural products and gold to big market of China and India. At the end of day, oil is oil, gold is gold and wheat is wheat. What difference does it make to China and India whether they buy oil from Russia or from elsewhere.

[loganair] 01/3/2022 19:10

Circa 70% of Russia's exports are currently not under sanctions ie Energy and Food commodities.

Russia has signed a contract with China to increase gas exports by 5 fold and none of this gas will be sold in USD. They are also building an interconnector to be able to transfer gas from fields only serving Europe to be able to serve China.

[ceaserxzy] 01/3/2022 18:56

Blackrock doubles Polymetal stake as investors flee over sanctions

Must see some probability of profit.

[smithie6] 01/3/2022 18:50

Good info. Thanks.

Crazy imo to define the NAV with the Russian mkt closed.

[topvest] 01/3/2022 18:35

THE NET ASSET VALUE PER SHARE IN PENCE,
INCLUDING INCOME WITH DEBT AT FAIR VALUE: 198.9
Due to the continued closure of the Moscow
Exchange (MOEX) the Company considers
that there has been a material change
to the market value of its investments
and it is in the best interests of the
shareholders to apply an alternative valuation
method. Using the RDXUSD (Russian Depositary
Index USD) as a proxy, the Company has
applied a fair value against all investments
held on MOEX. Investments in American
Depositary Receipts and Global Depositary
Receipts continue to take the latest available
price.

[robizm] 01/3/2022 18:27

The ADR are listed in London USA etc. Gazprom ADR fell to 50c today . 52 week high was $10.40

[smithie6] 01/3/2022 17:30

Topvest

How can they issue any new NAV if Russian mkt is closed till next week ,?

[smithie6] 01/3/2022 17:28

Uh ??

So, % in Russian stocks = ??

----

If not in Russian stocks what is the relevance to this thread ??

[mwj1959] 01/3/2022 17:02

BEE on the other hand is trading at a 20%+ discount to NAV despite now only having 6% of assets now in Russian stocks not listed in Moscow.

[topvest] 01/3/2022 16:58

I am not sure why they are publishing a daily net asset value in the circumstances. It's meaningless really. This will get hammered again tomorrow then no doubt!
The costs of running the trust have been significantly reduced to virtually nothing given that JPMorgan are waiving their fees.

[mwj1959] 01/3/2022 16:52

NAV printed down 60% from yesterday, so at 198p NAV current share price is at a premium. And they have taken a slightly more optimistic view on their Russian listed stocks than BEE, who valued them all at zero in their latest NAV.

[smithie6] 01/3/2022 16:07

Pj0077

I change my post, looks like the fund has 10% in cash, mostly in $.

So, perhaps there is enough to pay the divi.

But it might be a big chunk of the cash, & they may decide they need to keep it, or some, since it is a time of stress.

[aurelius5] 01/3/2022 16:06

Update from the Board of JPMorgan Russian Securities plc



Further to JPMorgan Russian Securities plc's (the Company) announcement on 24th February 2022 regarding the US/EU/UK sanctions, the Board provides the following update:



Portfolio:

As at 28th February 2022, the Company's portfolio comprised holdings in locally listed stocks of 49.4%, which the Company is currently unable to trade due to recent restrictions. 40.1% of the Company's holdings are in ADR/GDRs, where trading is disrupted. 10.5% of the Company's assets are held in mostly US Dollar cash and cash equivalents.

The Company currently holds VTB Bank stocks which represented approximately 1.9% of the Company's portfolio as at 25th February 2022. The Company's Manager continues to monitor the impact of the developing sanctions regimes on these stocks.



Management Fees:

The Company's Manager has advised the Board of its intention to waive its management fee. The waiver will take effect following payment of the management fee to 28th February 2022 and will apply until further notice.



NAV:

The Company will continue to calculate and announce its unaudited NAV on a daily basis. Details of the methodology applied to the calculation of the unaudited NAV will be included in these announcements.



Dividends:

As previously announced, the Company will pay its final and first interim dividends to shareholders on 11th March 2022, as declared on 27th January 2022. However, the current sanctions and restrictions in Russia are expected to restrict the Company's ability to pay any further dividends until further notice. It remains the Company's intention to resume quarterly dividend payments once circumstances permit.

[topvest] 01/3/2022 15:59

There is a continuation vote at the AGM next Monday, so I suspect there is now a high chance that the trust will be put into run-off, as and when the assets can be sold. It depends on City of London Investment Group and Lazard, I guess!

[hindsight] 01/3/2022 15:53

Personally think the valkyrie binary bet is approaching.