Sanctions Announcement

RNS Number : 8983K

JPMorgan Russian Securities PLC

13 April 2018

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN RUSSIAN SECURITIES PLC

Legal Entity Identifier:

549300II3MHI98ZLVH37

Board response to recent additional US sanctions against Russia

Following the announcement on the 6^th April 2018 from the U.S. Treasury's Office of Foreign Assets Control (OFAC) of additional persons and entities subject to targeted sanctions under the Ukraine / Russia program,   the Board notes that only one of the companies that JPMorgan Russian Securities plc holds in its portfolio - United Company Rusal - is directly subject to the additional sanctions as referred to above. Rusal represented approximately 1% of the Company's portfolio as at 28^th February 2018.

The Board of JPMorgan Russian Securities plc confirms that JPMorgan Asset Management is working with OFAC to implement the necessary actions in order to be compliant with the newly introduced sanctions.

The Board continues to track developments in the region closely, with the assistance of JPMorgan Asset Management's investment functions and compliance, and the Company remains invested within the Company's guidelines.

13^th April 2018

For further information:

James Glover,

JP Morgan Funds Limited                    020 7742 4000

Hugh Jonathan  

Numis Securities Limited                    020 7260 1263

 

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