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Having already shown my ignorance to wiser heads, I would appreciate comments/views on my assessment of the risks entailed or this Fund.
As I see it, the Shareholders have approved a 5 year extension, so it won't be wound up. JPM may feel the reputational risk does not warrant association with Russian Investments, so may look to transferring management to someone else. But who would take this on? Russia is deemed uninvesable.
The risks lie in the UK Govt/Regulators forcing the Trust to sell its Russian holdings (when allowed to do so by the Russians), but where will they put their liquid funds? In former Soviet satellites.
The real risk to me is that o the Russians simply expropriating foreigner' hholdings (nationalisation) in the Communist way. But if they were so inclined, they would already have done so, surely? Otherwise they would have defaulted on the foreign debt, which as far as I am aware, they have not done so far.
The risk of JPM buying out the Trust (hence the low Nav?) at the stated Nav of 40 something pence rather than 400 something pence would. I hope, be rejected by the Shareholders and an Independent Board.
I myself for months have been wondering what the catch is. I haven't been able to think of a plausible downside outcome, its worth remembering jpm are a huge American firm with a UK listing and mainly Russian stocks.
I'm extremely doubtful of risk from the Russians as they require future investment, stealing assets would be suicide and thus far they have made no indication of this and intact criticised the west. Jpm are well established within Russia and still hold a highly coveted banking license so in truth could probably release the funds from assets if they wanted to.
Jpm themselves could only shut the fund by making us a big offer so no risk there.
The US and UK don't want any new investment ATM in Russia but that is irrelevant. They can't force sale of stock that can't be sold and when it can this war is over so there's no motivation to sanction.
That is basically how I see things Soleman
Thanks Soleman. You are basically endorsing my thoughts? I see Sanctions continuing beyond any war cessation because of the stupidity of the self-harming West (in particular the Yanks and their lapdogs, the Brits).
But as Warren Buffett once said.... "I don't care if the Stockmarket shuts down for ten years". (To be fair, he also said he wouldn't touch Russia after seeing Gangster Capitalism at work during his Chairmanship of Saloman). As someone commented earlier, the cash dividend surplus will build up.
RNS out- anyone have any idea why JRS would sell all their Kazakhstan investments?
I bought shares in JRS late February. If JRS were to give out special dividends would I be able to receive these?