Mutual funds struggle to value Russian bonds
Filings show just how challenging pricing securities has been during crisis
In the immediate aftermath of Russia’s invasion of Ukraine, the ensuing sanctions and illiquidity posed challenges to conventional methods of pricing securities. Foremost among these challenges were the struggles faced by mutual funds in valuing their holdings of Russian government debt.
Mutual fund filings covering the five weeks after February 24 show that even as the funds uniformly marked down their holdings, wide disagreements persisted and some valuations were highly uncertain.
The
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