Aegon, OTP Fund Managers Segregate Illiquid Russian Assets
Photo by Patrick Daxenbichler / Shutterstock.com
The fund managers of Aegon and OTP are segregating illiquid assets in their Russian equities funds, the National Bank of Hungary (MNB) said on Friday, according to a report by state news wire MTI.
The fund managers suspended their Russian shares funds after the start of the war for 30 days, as permitted by law, and were allowed one-year extensions by the central bank and financial market regulator. With the end of those extensions approaching late in March, the fund managers informed MNB they will segregate the illiquid from the liquid assets in the funds.
The illiquid assets will be designated as such and clients will not be charged any fee for those investment fund units on their accounts.
MNB noted that 30%-40% of assets in Aegon's and OTP's Russian equities funds are liquid and have a value of "a few hundred million forints".
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
