JP Morgan issued an RNS as we speak saying there are “presently no plans to concern shares or increase capital”.
I don’t like the usage of the phrase ‘presently’, as, in the event that they write the plans tomorrow its technically not an unfaithful assertion.
I merely don’t belief them and suppose the fund must be delisted, surplus money paid out and frozen till such a time as we are able to get our cash out at an affordable valuation – which I might outline as MOEX +/- 10%. I’m very conscious this will likely take a number of years however am nothing if not affected person. There’s some motion amonst shareholders to place ahead a decision limiting their capacity to eliminate Russian shares – if one thing like that is proposed I’ll help it.
There is no such thing as a benefit to creating this a stay funding automobile with 41p/share stay property, coupled with an unvaluable (in impact) quantity of Russian inventory.
This merely isnt a wise plan and may nonetheless be voted in opposition to on the earliest alternative.