On July 22, 2014 „Citadele Asset Management” (hereinafter – the Company) received from „Citadele banka” (hereinafter – the Custodian) the announcement on additional restrictions of transactions with certain companies of the Russian Federation operating in defence, financial services and energy sectors set by the USA. The Custodian announced possible sanctions of such kind against Russian Federation form the part of the EU as well.
The Company herewith cautions the investors that the sanctions against Russian companies of defence, financial services and energy sectors and potential sanctions of the EU may significantly influence the Company’s possibilities exercising the management of the investment fund „Citadele Russian Equity Fund” assets held and located within Russian Federation.
Considering the aforementioned and the current situation, the Company cautions the investors that their investments in „Citadele Russian Equity Fund” may be exposed to greater risks, including but not limited to liquidity risk, third person risk, market concentration risk, political risk, economical risk, safe custody risk and as well other particular Russian Federation risks set by fund prospectus. Due to this negative effect might be exposed to inter alia to the safe custody of securities and handling of transactions, and as well as possible deployment of market infrastructure. Assessment of investment risks is altered because of established and planned sanctions against Russian Federation, and therefore Company strongly encourages the investors to reestimate the risks associated with investments in the Russian Federationdue to the political situation in respect to Ukraine.
For more detailed information on the investment fund "Citadele Russian Equity Fund" please refer to the fundamental fund documents, such as the prospectus, the fund rules, and the key investor information available at: http://west.citadele.lv/en/services/funds/russia/.