Regarding the restriction on transactions with the investment certificates of ABLV High Yield CIS USD Bond Fund

Riga, Latvia, February 28, 2022, 18:54 / Investments

In response to the Russia's destabilizing actions in Ukraine, the European Union and the US OFAC have imposed new sanctions on Russia in unprecedented scale, including targeting the Russian credit institutions and making it difficult or impossible to perform the settlement transactions with the respective credit institutions. As a result of the imposed sanctions, also the transactions with and settlement of the financial instruments issued by the Russian issuers are not executed or are restricted, because the financial market participants, including within the European Union, have set restrictions on trading with the respective financial instruments.

Consequently, the investment fund ABLV High Yield CIS USD Bond Fund (hereinafter - the Fund), which in accordance with the Fund's prospectus invests in bonds issued by CIS issuers and has a significant share of the portfolio of the financial instruments consisting of the Russian issuers, is also directly affected by the restrictions imposed by the international financial market participants.

Considering the above circumstances, Integrum Asset Management, IPAS (hereinafter - the Company) concludes that an extraordinary situation has occurred, because of which the transactions with the Fund's financial instruments cannot be executed. Pursuant to the Section 54, Paragraph three of the Law on the Investment Management Companies, Clause 11.5 of the Fund's Prospectus and the decision of the Company's Board, the redemption of the Fund's investment certificates is suspended for the duration of the said extraordinary situation. Starting from 17:00 on 28 February 2022 acceptance of the investors’ applications for redemption of the Fund's investment certificates is also suspended.

The Company closely monitors the developments in the financial markets and will immediately inform the investors regarding any changes in the redemption of the Fund's investment certificates in a separate notice.