Moscow. June 24. INTERFAX.RU – Since June 27, the Moscow Exchange has excluded shares of the FinEx exchange-traded investment fund of Russian liquid Eurobonds (FXRB) from the quotation list and ceases trading in them due to the fact that the value of the fund’s net assets has fallen to zero, according to the information of the trading floor.
In early June, the FinEx ETF company announced that the FXRB fund will cease to exist in the near future, investors should not expect any payments on this asset.
The main source of dividends in the FXRD fund was the forward premium in the RUB/USD pair (additional profitability due to the positive difference between the ruble and dollar rates). Dividends were paid semi-annually based on the average level of the key rate of the Central Bank of the Russian Federation for six months prior to the announcement of dividends. A 150 basis points (1.5 percentage point) premium was added to the variable rate, reflecting the spread between the average yield of securities in the bond portfolio and the risk-free dollar rate. In February 2022, investors received a dividend of 7.3% per annum.