VanEck is liquidating two Russia exchange-traded funds nearly a year into Vladimir Putin’s invasion of Ukraine.
The issuer is closing the VanEck Russia ETF (RSX) and the VanEck Russia Small-Cap ETF (RSXJ), it said in a release Thursday. Trading in the funds and others like them had ceased following Russia’s brutal invasion of its neighbor, which started in February. The U.S. and its European allies, among others, instituted harsh sanctions against Russia in the wake of the war.
“The effect of geopolitical affairs and sanctions imposed by the United States and other countries on transactions in Russian equities, and on related clearance and payment systems, have rendered a substantial number of the funds’ positions illiquid, including many depositary receipts,” VanEck said in the release.
The inability to buy, sell and make or take delivery of Russian securities made it impossible to manage their investment objectives, the company added. VanEck says the liquidation of RSX and RSXJ could take a long time if the situation with Russian markets doesn’t improve.
Stocks linked to Russia plunged following the outbreak of war and subsequent economic punishment meted out to the country. But many asset managers also steered clear of Russian-linked investments due to reputational concerns.
Separately, Franklin Templeton said last week that the firm was liquidating its Franklin FTSE Russia ETF (FLRU).
Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.
A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.
NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.
Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.
Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
