Barings Emerging EMEA Opportunities trust NAV drops 30% on Russian stocks

'Largely attributable' to Russia

The £73m Barings Emerging EMEA Opportunities trust has reported its net asset value fell 29.9% over the year to the end of September, “largely attributable” to writes downs of its investments in Russian companies.

By comparison, the NAV total return in 2021 was 36.6%. The trust also performed badly against its benchmark, which was only down by 20.1%. Share price total return was down 29.1%, compared to a positive return of 39.7% in 2021. JP Morgan Russian Securities' shareholders vote 'yes' on mandate changes Dividend per share was 17p for the year, compared with 26p in 2021, while discount to NAV per ordinary share was 13.3%.  Frances Daley, the trust's chair, blamed the large drop on Russian securities being "written down to zero following exchange closures and sanctions" related to the...