Funds forced to estimate value of Russian securities
Western asset managers can sell Russian shares from April 1. But they have to value them by March 31
Asset managers have until March 31 to make a “judgemental call” on the value of their investments in Russian stocks and bonds, securities that foreign firms are forbidden from selling even though the Moscow Exchange has reopened after a closure lasting three-and-a-half weeks.
Western investors have to put a value on the holdings in their funds at the end of each quarter, but the ban on selling imposed by the Russian authorities means Moscow’s stock market no longer provides a true measure of
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