Looks like gg forgot how many names21 Oct 2022 10:00
he has ,,,,,,,,
Yep. JP Morgan have written down the value of the holdings by about 99%, hence the low reported NAV - it's pretty much just the money market fund value. Investors are essentially betting on the capital controls lifting and MOEX access being restored to "unfriendly" nations at some point in the future (or a workaround being found). The cost of the bet is the difference between the NAV and the SP. Worst case scenario is we only get 40 odd pence per share back IMO.