FinEx adds dollar option to Russia bond ETF

MoscowFinEx ETF has launched a US dollar share class for its Ucits-regulated Russian corporate bond exchange-traded fund (ETF).

The FinEx Tradable Russian Corporate Bonds Ucits ETF is listed in Moscow, London and Dublin and it comes eight months after FinEx launched an earlier version of the fund with a hedged ruble share class. The earlier fund was the first ETF to be cross-listed in Russia.

The ETF tracks the performance of the Barclays EM Tradable Russian Corporate Bond Index. It focuses on shorter maturity liquid Eurobonds issued by Russian non-sovereign issuers.

The index currently includes 28 securities of 18 leading Russian companies with durations ranging from 18 months to five years.

Total assets of the ETF stand at about $12.4 million (€9.1 million).

Evgeny Kovalishin, president and chief executive at FinEx Plus, says: “This is the first ETF on the Moscow Exchange to offer shares in both ruble-hedged and US dollar classes.”

FinEx Group, based in London, has assets under management of over $1 billion in active and passive strategies.

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