Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

S&P Global Ratings on Thursday cut Russia's credit deeper into junk territory, from 'CCC-/C' to 'CC/

edited April 8 in Other Investing
“Investors don't appear to have received a coupon payment on Russian dollar-denominated Eurobonds on Wednesday.”


This sounds nasty. Wouldn’t many of Wood’s ARKK holdings have better credit ratings? I’m guessing most / all U.S. based funds have exited Russia by now?


  • As I and others have written, index funds do not have the ability to take defensive positions; they must attempt to track their index. Case in point, ERUS. Current AUM is $1M ($945K in cash equivalents), current NAV is $0.07.

    Blackrock suspended trading and is not creating new shares. Down 99.83% YTD. You can find its holdings here:

  • Russian bonds need a new rating system... how about "Z", to match the logo on their tanks and attack equipment?
  • edited April 9
    Think “Z” stands for zero value, either in term of USD or even rubles. BlackRock is taking a big bath and stands to loss billions of Russian bonds.
  • Thanks @msf for clarifying. Interesting situation.
Sign In or Register to comment.