Tinkoff Investments has invested more than 500 million rubles to unfreeze the Tinkoff Eternal Portfolio USD fund on the Moscow Stock Exchange.
According to Tinkoff’s report, the bank repurchased all of the locked securities from the US dollar-traded fund Tinkoff Eternal Portfolio. This made it possible to return access to their funds to 450,000 clients.
In March 2022, the European clearing and settlement organizations Euroclear and Clearstream blocked the accounts of the National Settlement Depository – NSD. Because of this, the assets of Russian investors were frozen in the Russian deposit.
Part of the assets of the Tinkoff Eternal Portfolio USD fund was also held in NSD and thus fell under lockdown. The company clarifies that the Tinkoff Eternal USD Portfolio included approximately 12% of the net asset value of the fund in the amount of more than 500 million rubles.
“We were the first on the Russian market to fully purchase the blocked assets, and all shareholders will have access to their assets. Thanks to the resumption of operations, assets totaling more than 4.5 billion rubles will be unfrozen,” said Dmitry Panchenko, director of Tinkoff Investments.
Author:
anastasia mariana
Source: RB
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