Invesco Indexing’s consultation on the treatment of Russian securities in Invesco equity and fixed income indexes ended Monday, March 7, 2022. As previously announced, Invesco Indexing sought stakeholder feedback, including such considerations as the extent and timing of any potential special treatment of these securities. We appreciate the quick and thoughtful feedback to the consultation from all stakeholders. Invesco Indexing’s conclusions for the treatment of Russian fixed income securities is included below. The conclusions for the treatment of Russian equity securities can be found in this separate communication.
All bonds issued by Russian entities, regardless of currency denomination, will be deleted from Invesco Indexing indexes as part of the regularly scheduled March 2022 rebalance effective as of the close of business, Thursday, March 31, 2022.
Invesco Indexing is designating Russia as ineligible for fixed income index universe inclusion. This change will be effective after the close of business Thursday, March 31, 2022. The next time Invesco Indexing will review Russia’s country eligibility is December 2022 with an effective date of any change, if applicable, in June 2023. However, we are closely monitoring the situation between Russia and the Ukraine and will be prepared to consider changes outside of that cycle should conditions warrant.
All RUB-denominated bonds issued by Russian entities will be priced at zero and will not have cash or accrued interest applied beginning Wednesday, March 9, 2022.
For all fixed income indexes other than the Nasdaq BulletShares® USD Emerging Markets Debt family of indexes, the following treatments apply:
For any questions, please reach out to a member of the client engagement team at IndexSupport@invesco.com.