Industry Updates

ITI Funds suspends primary market trading on Russia ETF

No announcement made on its bond ETF

Theo Andrew

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Multi-asset investment platform ITI Funds has become the latest issuer to confirm the suspension of primary market trading on its Russia ETF.

In a market update on 3 March, the firm said it had suspended creations on the ITI Funds RTS Equity UCITS ETF (RUSE) from 1 March.

ITI Funds said the decision was made due to the ongoing closure of the Moscow Exchange severely impacting the liquidity of the ETF.

“Subscriptions and redemptions of shares are suspended as per the decision of the board of directors from 1 March, with immediate effect until further notice,” it said.

While the decision has been made for its equity ETF, ITI Capital has not declared what has happened to its Russia bond ETF, the ITI Funds Russia-focused USD Eurobond UCITS ETF (RUSB).

Earlier this week, HSBC Asset Management said it suspended primary market trading on its HSBC MSCI Russia Capped UCITS ETF (HRUB) following two “non-dealing days” and was shortly followed by FinEx Capital who took the same measures on its FinEx Tradable Russian Corporate Bond UCITS ETF (FXRU).

BlackRock, Invesco and DWS announced they would be suspending primary trading on their standalone Russia ETFs while the former added it would take the same action on its iShares MSCI Eastern Europe Capped UCITS ETF (IEER).

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