BNP Paribas AM to liquidate suspended Russia fund

In a shareholder letter seen by Investment Week, BNP Paribas AM said the liquidation value would be calculated based on the liquid portion of the portfolio as 4 July, adding that "no positive future perspectives… can be foreseen at this stage". The fund has been suspended since 1 March 2022, due to the Russian invasion of Ukraine and subsequent sanctions on the country making the disposal and valuation of much of the fund's assets "impracticable". ECB meets expectations with 25bps hike As of 28 February 2022, 26.4% of the fund's assets were illiquid, the letter said. The fund h...