On March 9, 2022, Invesco Indexing shared the conclusions from the consultation on the treatment of Russian securities in Invesco fixed income indexes. Today, we are sharing important updates affecting the treatment of Russian - and Belarussian - fixed income securities in Invesco indexes.
One of Invesco Indexing’s index calculation agents recently has announced they will:
- Continue to use evaluated prices – when available – for Russian and Belarussian fixed income securities leading up to month end, then will apply a price of zero to all these securities at the close of business March 31, 2022, and
- Remove Russia and Belarus from their universe of priced securities after the close of business that same day.
In response:
- All Russian and Belarussian securities in the relevant Invesco fixed income indexes will reflect the calculator’s evaluated prices leading up to month end, then reflect a price of zero at the close of business, March 31, 2022,
- As previously announced, all Russian securities will be removed from the relevant Invesco indexes as part of the regularly scheduled March 2022 rebalance effective as of the close of business, March 31, 2022, and
- Consistent with our policy to exclude securities if pricing data is not available from the calculation agent, Belarussian securities will be removed from the relevant indexes as of the close of business, March 31, 2022.
The aforementioned treatment applies to all Invesco fixed income indexes except the Nasdaq BulletShares® USD Emerging Markets Debt family of indexes. More information regarding this family of indexes will be available at a later date.
For any questions, please reach out to a member of the client engagement team at IndexSupport@invesco.com.