Ukraine crisis
We are horrified by this human tragedy and our thoughts are with all those impacted by this truly awful crisis. We’re considering our position very carefully and are working with regulators and wider market participants to fully understand all the impacts.
Our priorities are offering support to our UK colleagues who are directly or indirectly affected by the crisis, working closely with our colleagues in our HL Tech hub, based in Warsaw, Poland, who are much closer to the awful events, and supporting our clients. During times of volatility and uncertainty, we know from past experience that clients seek more information on how a crisis impacts their investments and this is what we have been providing.
We are a UK business serving UK clients. We do not have any offices, colleagues or suppliers in Russia or Ukraine. The vast majority of our business involves acting as an agent for our clients who choose their own investments, rather than managing money on their behalf, as an asset manager would.
More information
For more information on what is happening in Ukraine and how this may impact the markets please visit the News section of our website.
Impact on equity trading
In light of the ongoing crisis in Ukraine, some stock exchanges have suspended trading in shares of Russian domiciled businesses. Other companies which earn significant revenues in Russia are still available for trading but given the evolving situation could see their financial stability and share price impacted.
Whilst we are unable to speculate on future suspensions please be aware there is a risk these shares may suspend and/or you may have difficulty trading in them in the future.
Below we have listed all shares on our platform which are currently suspended for trading as well as a different list of shares with exposure to Russia which are not currently suspended but could be impacted in the future.
Suspended shares
| Share name | |
|---|---|
| Rostelecom PJSC | ADR Representing 6 Shares |
| Mobile TeleSystems OJSC | ADS EACH REP 5 COM SHS(SPONS) |
| Surgutneftegas PJSC | ADR each Representing 10 Ordinary |
| Sistema Pjsfc | GDR |
| Novatek PAO | GDR Each Repr 10 Ord REG S |
| Mechel PAO | ADR EACH REP 0.5 PFD SHS SPON |
| MMC Norilsk Nickel PJSC | ADR Representing 0.1 Ord |
| Mechel PAO | ADR each Representing 2 Ordinary Shares Spons |
| Petropavlovsk plc | Ordinary 1p |
| PJSC Tatneft | ADR Each Rep 6 Ord Shares |
| QIWI plc | ADS each Representing 1 B Share |
| Ozon Holdings plc | ADR EACH REPR ORD SPON |
| X5 Retail Group NV | GDR each Representing 0.25 |
| Evraz plc Ord USD0.05 | Ord USD0.05 |
| Energyo Solutions Russia AB | NPV |
| Yandex NV | USD0.01A |
Correct as of 21 July 2022.
Further to these suspensions the following shares have now been delisted:
| Share name | |
|---|---|
| PJSC Gazprom | ADS each Representing 2 Ordinary Shares |
| Gazprom Neft OJSC | ADR each Representing 5 Ordinary Shares Level 1 |
| Sberbank of Russia | ADR each repr 4 Ordinary Shares (Spons) |
| PJSC Lukoil | ADR each Representing 1 Ordinary RUB0.025 |
Correct as of 21 July 2022.
Not suspended but have significant revenues in Russia
| Share name |
|---|
| Polymetal International plc Ord NPV |
Correct as of 21 July 2022.
Impact on Exchange Traded Funds (ETFs)
The London Stock Exchange (LSE) announced they are suspending trading in some ETFs which have substantial exposure to Russia. The current status of these investments is listed below.
| ETF name | Status |
|---|---|
| Xtrackers MSCI Russia Capped Swap UCITS ETF | Suspended |
| iShares VII plc MSCI Russia ADR/GDR UCITS ETF | Terminated |
| HSBC ETFS Plc MSCI Russia Capped UCITS ETF GBP | Suspended |
| Invesco Markets plc Invesco RDX UCITS ETF A SHS USD | Terminated |
| Direxion Shares ETF Trust Daily Russia Bull 2X Shares | Terminated |
| iShares Inc MSCI Russia Capped ETF | Suspended |
| Lyxor MSCI Russia UCITS ETF Dist | Suspended |
| Lyxor Asset Management MSCI Russia UCITS ETF - Acc | Suspended |
| VanEck ETF Trust Russia ETF | Suspended |
| VanEck ETF Trust Russia Small Cap | Suspended |
| iShares plc MSCI Eastern Europe Capped UCITS ETF (Dist) | Terminated |
| iShares plc MSCI Eastern Europe Capped UCITS ETF (Dist) USD | Terminated |
| WisdomTree Nickel | Trading as usual |
| WisdomTree Nickel 1x Daily Short | Trading as usual |
| WisdomTree Nickel 2x Daily Leveraged | Trading as usual |
| GPF Metals plc GPF Physical Nickel ETC | Suspended |
| WisdomTree Nickel 3x Daily Short | Terminated |
| WisdomTree Nickel 3x Daily Leveraged | Terminated |
Correct as of 21 July 2022.
Fund suspensions
In light of current events some fund groups have taken the decision to suspend some or all trading into their funds. An updated list of funds which invest in Russia available through our platform and their current status can be found below.
Where we are awaiting confirmation, we have requested an update from the fund group and will update this list when we have one.
| Fund name | Trading status |
|---|---|
| ASI Eastern European Equity Inclusive - Class A - Accumulation (GBP) | Suspended |
| ASI Eastern European Equity Class I - Accumulation (GBP) | Suspended |
| Barings Eastern Europe Inclusive - Class A - Income (USD) | Suspended |
| Barings Eastern Europe Inclusive - Class A - Income (EUR) | Suspended |
| Barings Eastern Europe Class I - Accumulation (GBP) | Suspended |
| Barings Eastern Europe Class A - Income (GBP | Suspended |
| Barings Eastern Europe Class I - Income (GBP) | Suspended |
| Barings Eastern Europe Class I - Income (USD) | Suspended |
| HSBC GIF BRIC Equity Class M2C - Accumulation (USD) | Trading as usual |
| HSBC GIF BRIC Equity Class M2D - Income (USD) | Trading as usual |
| HSBC GIF BRIC Equity Inclusive - Class A - Accumulation (GBP) | Trading as usual |
| HSBC GIF BRIC Equity Inclusive - Class A - Income (GBP) | Trading as usual |
| HSBC GIF BRIC Equity Class BD - Income (GBP) | Trading as usual |
| HSBC GIF BRIC Equity Class BC - Accumulation (GBP) | Trading as usual |
| HSBC GIF Russia Equity Inclusive - Class AD - Income (USD) | Suspended |
| HSBC GIF Russia Equity Inclusive - Class AD - Income (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Inclusive - Class A - Accumulation (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Inclusive - Class A - Income (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Class B - Accumulation (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Class A - Accumulation (USD) | Suspended |
| JPMorgan Emerging Europe Equity Class C - Income (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Class A - Income (USD) | Suspended |
| JPMorgan Emerging Europe Equity Class C - Accumulation (GBP) | Suspended |
| JPMorgan Emerging Europe Equity Class C - Accumulation (USD) | Suspended |
| JPMorgan Emerging Europe Equity (Offshore) Inclusive - Class A - Income (EUR) | Suspended |
| JPMorgan Emerging Europe Equity (Offshore) Class C - Accumulation (EUR) | Suspended |
| JPMorgan Emerging Europe Equity (Offshore) Inclusive - Class A - Accumulation (EUR) | Suspended |
| JPMorgan Russia Inclusive - Class A - Income (USD) | Suspended |
| JPMorgan Russia Inclusive - Class A - Accumulation (USD) | Suspended |
| Liontrust Russia Inclusive - Class A - Accumulation (GBP) | Suspended |
| Liontrust Russia Class C - Accumulation (GBP) | Suspended |
| Mori Eastern European Inclusive - Class AA - Accumulation (GBP) | Trading as usual |
| Mori Eastern European Class C - Accumulation (GBP) | Trading as usual |
| Pictet Russian Equities Class I - Accumulation (USD) | Suspended |
| Pictet Russian Equities Inclusive - Class P - Income (GBP) | Suspended |
| Pictet Russian Equities Class I - Accumulation (GBP) | Suspended |
| Pictet Russian Equities Class HP - Accumulation (EUR) | Suspended |
| Schroder ISF BRIC Inclusive - Class A - Accumulation (USD) | Trading as usual |
| Schroder ISF BRIC Class C - Accumulation (USD) | Trading as usual |
| Schroder ISF BRIC Inclusive - Class A - Income (USD) | Trading as usual |
| Templeton Eastern Europe Class A - Accumulation (EUR) | Suspended |
| BlackRock Emerging Europe D2 GBP Hedged Class D2 - Accumulation (GBP) | Suspended |
| BlackRock Emerging Europe Fund (Offshore) Inclusive - Class A2 - Accumulation (EUR) | Suspended |
| BlackRock Emerging Europe Fund (Offshore) Inclusive - Class A4 - Income (GBP) | Suspended |
| Fidelity Emerging Europe Middle East & Africa Inclusive - Class A - Accumulation (GBP) | Sales only |
| Fidelity Emerging Europe Middle East & Africa Class W - Accumulation (GBP) | Sales only |
| Invesco Emerging European Inclusive - Accumulation (GBP) | Suspended |
| Invesco Emerging European Inclusive - Income (GBP) | Suspended |
| Invesco Emerging European Class Z - Accumulation (GBP) | Suspended |
| Invesco Emerging European Class Y - Accumulation (GBP) | Suspended |
| Invesco Emerging European Class Y - Income (GBP) | Suspended |
| Invesco Emerging European (UK) Class Z - Income (GBP) | Suspended |
| Invesco Perpetual Emerging European No Trail - Accumulation (GBP) | Suspended |
| Invesco Perpetual Emerging European Inclusive - Income (GBP) | Suspended |
| Jupiter Emerging European Opportunities Inclusive - Accumulation (GBP) | Suspended |
| Jupiter Emerging European Opportunities Class I - Accumulation (GBP) | Suspended |
| Schroder ISF Emerging Europe Inclusive - Class A - Income (GBP) | Suspended |
| Mori Ottoman - Inclusive - Class AA - Accumulation (GBP) | Suspended |
| Mori Ottoman - Class C - Accumulation (GBP) | Suspended |
Correct as of 21 July 2022.