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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)
PJSC Gazprom ADS each Representing 2 Ordinary Shares
Surgutneftegas PJSC ADR each Representing 10 Ordinary
Sistema Pjsfc GDR
Novatek PAO GDR Each Repr 10 Ord REG S
Gazprom Neft OJSC Level 1 ADR each Representing 5 Ordinary Shares
Mechel PAO ADR EACH REP 0.5 PFD SHS SPON
Sberbank of Russia ADR each repr 4 Ordinary Shares (Spons)
MMC Norilsk Nickel PJSC ADR Representing 0.1 Ord
Mechel PAO ADR each Representing 2 Ordinary Shares Spons
PJSC Tatneft ADR Each Rep 6 Ord Shares
PJSC Lukoil ADR each Representing 1 Ordinary RUB0.025
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

Correct as of 27 April 2022.

Not suspended but have significant revenues in Russia

Share name
Polymetal International plc Ord NPV
Petropavlovsk plc Ordinary 1p

Correct as of 27 April 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 Suspended
HSBC ETFS Plc MSCI Russia Capped UCITS ETF GBP Suspended
Invesco Markets plc Invesco RDX UCITS ETF A SHS USD Suspended
Direxion Shares ETF Trust Daily Russia Bull 2X Shares Suspended
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) Suspended
iShares plc MSCI Eastern Europe Capped UCITS ETF (Dist) USD Suspended
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

Correct as of 27 April 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 27 April 2022.