A Ukrainian oil tank sees black smoke rising from Russian bombing. [우크라이나 국가비상대응청 제공] [저작권자 ㈜연합뉴스]
The only Russian ETF (symbolic index fund) in Korea is in danger of being delisted. This is because the value of Russian stocks in the benchmark index of ‘KINDEX Russia MSCI (synthetic) ETF’ operated by Korea Investment Trust Management has effectively become ‘0’.
On March 3, Korea Investment Trust Management, which operates the ETF, said, “MSCI will apply a price of 0.00001 to all Russian stocks in the index from the closing price on the 9th.” As a result, the assets of KINDEX Russia MSCI (synthetic) ETF The value may drop very significantly or delisting may proceed.”
As a result of MSCI’s move, the price of Russian futures listed on the European Derivatives Exchange (Eurex) fell by 77%.
‘KINDEX Russia MSCI (synthetic) ETF’ is an ETF established on March 16, 2017. The set amount is 11 billion won, and the net assets are about 8 billion won. It is recording a loss of -53.61% this year.
Meanwhile, as the gap between the benchmark index of the ETF and the actual stock price increased on the same day, the Korea Exchange designated it as an investment to consider and applied single-price trading from the 3rd.
- reporter information
- Hyeonchang Kang
- kanghc@ajunews.com
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