Industry Updates

Invesco latest to waive fees on Russia ETF

Follows moves from BlackRock and DWS

Theo Andrew


Invesco has become the latest ETF issuer to waive the fees on its Russia ETF as it remains suspended.

In a market announcement, Invesco said it would relinquish the total expense ratio (TER) on the Invesco RDX UCITS ETF (RDXS) from the date the ETF was suspended following Russia’s invasion of Ukraine.

The ETF issuer added that it would bear the costs of maintaining the fund until further notice.

RDXS, which has a TER of 0.65%, suspended primary market trading on 2 March due to the escalating conflict in Ukraine, the impact the west’s sanctions were having on the Russian economy and closure of the Moscow Stock Exchange.

Secondary market trading of RDXS was subsequently halted after exchanges across Europe stopped trading on all Russia ETFs.

Invesco follows BlackRock and DWS which announced they would be waiving fees earlier this month.

The firm said: “Following the suspension of the fund as a result of the Russia-Ukraine conflict and resulting market conditions, all management fees on the fund since the date of the fund's suspension, 2 March 2022, will be waived.

“In addition, the fund's management company will bear all costs associated with maintaining the fund until further notice. The board is closely monitoring the situation and is in continuous contact with the Central Bank of Ireland.”

HSBC Asset Management and Amundi declined to comment.

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