FinEx to Liquidate Frozen ETFs for Russian Investors

FinEx, a Russian ETF provider, is moving to liquidate funds that have been frozen for Russian investors since June 2022. The directors of the funds filed petitions after a detailed analysis of options to return capital to shareholders.

The freeze occurred as a result of sanctions imposed against Russia's National Settlement Depository (NSD). The liquidation is described as a mechanism for the "orderly realization of fund assets and return of capital to eligible investors in a sanctions-compliant process."

This action affects investors whose holdings were blocked two years ago, and the process is expected to proceed under strict regulatory oversight.