TIDMJRS
RNS Number : 7248R
JPMorgan Russian Securities PLC
18 June 2018
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN RUSSIAN SECURITIES PLC
UNAUDITED HALF YEAR RESULTS FOR THE SIX MONTHSED
30TH APRIL 2018
Legal Entity Identifier:
549300II3MHI98ZLVH37
Information disclosed in accordance with DTR 4.2.2
CHAIRMAN'S STATEMENT
Performance
It has been a difficult six months for investors in Russia. When
I wrote my Chairman's statement for the Annual Report last January
I referred to the political risk but I do not think that anyone
would have anticipated the extent to which relationships between
the West and Russia deteriorated over the next few months. However
what I said at that time about the economy in Russia continuing to
grow remains true and the Company is invested in companies with
strong balance sheets, able to support substantial dividend
payouts.
During the six months ended 30th April 2018 the Company's net
asset value on a total return basis increased 2.2% and the
Company's return to shareholders on a total return basis was
positive 1.1% over the period. It is pleasing that both these
measures were ahead of the Company's benchmark (RTS index) which
returned 0.6% on a total return basis. The Company's discount to
net asset value has remained disappointingly wide and was slightly
higher at the end of the period at 15.6% (at the end of the
Company's last financial year the discount was 14.5%). The average
discount over the period was 13.8%. However, this is not surprising
given the increasing sanctions against Russia and political
tensions that persist between Russia and many other major
nations.
Russia's international relations with the United States and
European governments have fallen to a new low during the period, as
demonstrated by the repatriation of embassy staff following alleged
Russian government involvement in the poisoning of a former Russian
spy and his daughter in the UK in March. Relations soured further
with allegations that Russian backed Syrian military launched a
chemical attack on Syrian civilians in a suburb of Damascus. The
United States reacted to these events by introducing further
economic sanctions on Syrian sites suspected of being involved with
chemical weapons.
As referred to in the Company's announcement on the 13th April
2018, the only holding in the Company's portfolio directly impacted
by the new sanctions was United Company Rusal, a major aluminium
producer. This investment represented approximately 1% of the
Company's portfolio, and in compliance with the sanctions, the
forced disposal of Rusal cost the Company 0.52% in performance
terms.
Although at the time of writing there have been no further major
incidents, it is clear that events have the potential to escalate.
This could give rise to further economic sanctions against Russia
that adversely affect Russian companies and the market and hence
potentially the Company's performance. JPMorgan Asset Management's
compliance function monitors the Company's investments and provides
assurances of compliance with the current sanctions regime. In
addition JPMorgan and the Board closely monitor both economic and
political risks to the Company.
The Investment Managers Report includes further comment on the
economic and political impacts on the Russian market.
Discount Control
The Board's objective remains to use the share repurchase
authority to assist in managing any imbalance between supply and
demand for the Company's shares, thereby reducing the volatility of
the discount. During the period the discount ranged from 10.7% to
17.6%. Following discussion with the Company's major shareholders
during the period, the Board has agreed that, subject to market
conditions, it will increase its buy back activity with a view to
buying back at least 6.0% of its issued share capital per annum.
During the course of the six month period 1,226,443 shares were
bought back, approximately 2.4% of the Company's issued share
capital at 30th April 2018. The average discount at which these
shares were bought back was 13.8% and these buybacks represented
approximately 18.0% of traded market volume during the period in
which they were undertaken.
It is hoped that this buy back strategy will have the effect of
gradually stabilising and narrowing the discount at which the
Company trades. The policy was initiated in January and since that
time the political turmoil has been such that it is no surprise the
discount remains wider than we would like it to be.
Revenue, Earnings and Dividend
Revenue for the six month period to 30th April 2018 after
taxation was GBP2,188,000 (2017: GBP1,460,000) and the return per
share, calculated on the basis of the average number of shares in
issue was 4.22 pence (2017: 2.79 pence) per share.
The Company's current income forecast for the year indicates
continuing growth in dividend income. Following the pattern of the
previous year, the Company's interim dividend is expected to be
considered by the Board for declaration in September 2018 and is
likely to represent the large majority of the total annual
dividend, with a significantly smaller final dividend being
recommended for approval by the shareholders at the Annual General
Meeting for payment in March 2019.
Investment Manager
Oleg Biryulyov and Habib Saikaly continue to be the Company's
Investment Managers supported by JPMorgan Asset Management's
Emerging Markets and Asia Pacific equities team (EMAP), which
consists of approximately 100 investment professionals. This
strength and depth is one of the advantages of having the fund
managed by a major investment house such as JPMorgan Asset
Management. The Board reviews the performance of the Investment
Managers each year and works pro-actively with the house to improve
all aspects of the running of the Company.
The Investment Managers have maintained a consistent approach to
investing in well managed companies with strong balance sheets.
They continue to believe that the equity market in Russia provides
a good long term investment opportunity, despite the significant
political risks, if the right stocks are selected. The relatively
high levels of dividend payments in the Russian corporate sector is
forecast to continue, as is the generally stable domestic economic
outlook, with no large changes anticipated in interest rates or
inflation. The price of oil is a major determining factor for the
Russian economy and a recent increase in tensions in the
Middle-East has contributed to a rising oil price. The recent rise
in the price of oil is yet to be reflected in the performance of
the Russian market. For those prepared to ride out this time of
heightened tension the underlying investment case for investing in
Russia remains strong.
Gill Nott
Chairman
15(th) June 2018
INVESTMENT MANAGER'S REPORT
Market review and performance
During the six months under review, the Company's net asset
value was up 2.2% on a total return basis, and the return to
shareholders was 1.1% in sterling terms. This resulted in the
Company outperforming its benchmark, the RTS Index, by 1.6% on a
net asset value total return basis.
The Russian market started the period strongly supported by
rising oil prices and the Central Bank further cutting interest
rates, a trend which has continued against the tide of global
tightening. In February, S&P upgraded Russian debt to
investable rating amid signs of an improving economic outlook.
However the U.S. announcement of sanctions in April was a surprise
and hit the market hard. April saw Russia as one of the weakest
markets globally, negatively impacted by currency losses following
the imposition of additional U.S. sanctions.
As the uncertainty surrounding further sanctions reduces, the
stronger oil price is proving supportive for the economy and
dividend payouts are continuing on the positive trend highlighted
in the Company's previous annual report.
Post reporting period, on 7th May, Vladimir Putin was
inaugurated as President for another six years as anticipated.
Portfolio positioning
We actively manage your portfolio and continue to build up
internal research capabilities and a growing team of professional
analysts with deep expertise in emerging markets and
Russia/Commonwealth of Independent States (CIS) markets.
In terms of portfolio activity, we would highlight that:
During the period we took profits from energy names Tatneft and
Gazprom, and also Sberbank on the back of share price strength. We
continued to trim our position in Evraz, a multinational vertically
integrated steel making and mining company, taking advantage of
strong performance.
With regards to additions:
We bought Norilsk Nickel, a palladium and nickel mining and
smelting company. The weaker ruble and stronger metals prices made
this stock more attractive.
We also initiated a position in Surgutneftgaz, an oil and gas
company. We view this company as a compelling opportunity given
their significant USD cash reserves and strong balance sheet.
Our energy holdings are relatively high as we continue to see a
better outlook for energy prices and dividend stories there.
On the positive side, we gained from our positions in:
Magnit - our recent move to underweight exposure in Magnit,
Russia's largest retailer, contributed to relative returns, as the
stock fell sharply following the abrupt departure of founding CEO
Sergey Galitskiy, and the impact of several macro factors, such as
a lack of food price inflation, subdued disposable income growth,
and elevated competition.
Sberbank - The company reported strong preliminary results for
2017, boosted by solid net-interest-margin (NIM) performance,
continuing mortgage growth, strong deposit inflows and a seasonal
decline in the corporate loan book. We are encouraged by the
long-term investment opportunity that Sberbank offers, and the
company's investor day in December reaffirmed our view.
In a similar vein, our lack of exposure to VTB contributed. The
company struggled in a low interest rate, low volatility
environment. As a reminder, we do not own this company due to
capital allocation concerns, preferring the quality and market
leadership of Sberbank.
Evraz, a steel and mining company, has been a beneficiary of the
rally in coal prices and a turnaround in the steel industry, which
has been driven the supply reforms in the Chinese steel market.
Notable stock-level detractors were:
Rusal - the company was specifically targeted by the new
sanctions, requiring US investors to divest of all assets related
to the company by 7th May. It was clearly very difficult to dispose
of the stock but we did so to comply with these restrictions.
Sollers - the auto manufacturer fell on the back of news that
the board of directors decided not to pay a dividend to its
shareholders.
The position in Ros-Agro, an agricultural commodity and food
business detracted on the back of weaker-than-expected numbers, as
the company continues to be impacted by weakness in sugar prices.
We have high conviction in this name for the long term and will
continue to hold the stock through this underperformance.
Outlook
The most recent reminder of the risks in this market came in the
form of a new round of Russia sanctions announced in April, largely
covering companies associated with oligarch Oleg Deripaska. The new
sanctions were a surprise to the market in timing and in substance.
However, we believe that their impact will be transitory. To us,
they are a reminder of the importance of assessing the complete set
of risks associated with a particular investment (in emerging
markets or elsewhere) and of the importance of diversification. Our
portfolio has not been immune to the impact of these sanctions, but
we believe well-managed, profitable companies in Russia - will
overcome short-term pressures and outperform over time.
While this has had an impact on the broader market, we have held
a constructive view on Russian equities based on: (a) orthodox
economic policies which have contained fiscal deficits and
inflation; (b) a gradual recovery in domestic demand which is
supporting corporate earnings; and (c) valuation support from
rising dividend payouts and a high dividend yield (which is now
above 6%).
An improving domestic economy, backed by earnings growth and
rising commodity prices, is supportive for Russian equities, with
potential upside coming from stronger investments and the recovery
of domestic consumption. The lower level of inflation gives the
Central Bank room to support more rate cuts in the next 12-18
months. Additionally, the domestic political outlook is stable
following recent presidential elections, although we would expect
to see some rotation of specialists in the government and
presidential administration.
We continue to believe that Russian equity valuations are
supportive for investors who are willing to accept the current
level of country risk.
Oleg I. Biryulyov
Habib Saikaly
Investment Managers
15(th) June 2018
INTERIM MANAGEMENT REPORT
The Company is required to make the following disclosures in its
half year report.
Principal Risks and Uncertainties
The principal risks and uncertainties faced by the Company
remain unchanged and fall into the following broad categories:
investing in Russia; share price discount and Net Asset Value per
share; investment underperformance and strategy; failure of
investment process; loss of investment team and Manager;
operational and cyber crime; board relationship and shareholders;
political and economic regulatory and legal market and financial.
Information on each of these areas is given in the Business Review
within the Annual Report and Accounts for the year ended 31st
October 2017.
Related Parties Transactions
During the first six months of the current financial year, no
transactions with related parties have taken place which have
materially affected the financial position or the performance of
the Company during the period.
Going Concern
The Directors believe, having considered the Company's
investment objectives, risk management policies, capital management
policies and procedures, nature of the portfolio and expenditure
projections, that the Company has adequate resources, an
appropriate financial structure and suitable management
arrangements in place to continue in operational existence for the
foreseeable future and, more specifically, that there are no
material uncertainties pertaining to the Company that would prevent
its ability to continue in such operation existence for at least
twelve months from the date of the approval of this half yearly
financial report. For these reasons, they consider there is
reasonable evidence to continue to adopt the going concern basis in
preparing the accounts.
Directors' Responsibilities
The Board of Directors confirms that, to the best of its
knowledge:
(i) the condensed set of financial statements contained within
the half yearly financial report has been prepared in accordance
with FRS 104 'Interim Financial Reporting' and gives a true and
fair view of the state of affairs of the Company and of the
assets/liabilities, financial position and net return/loss of the
Company, as at 30th April 2018 as required by the UK Listing
Authority Disclosure and Transparency Rule 4.2.4R; and
(ii) the interim management report includes a fair review of the
information required by 4.2.7R and 4.2.8R of the UK Listing
Authority Disclosure and Transparency Rules.
In order to provide these confirmations, and in preparing these
financial statements, the Directors are required to:
-- select suitable accounting policies and then apply them consistently;
-- make judgements and accounting estimates that are reasonable and prudent;
-- state whether applicable UK Accounting Standards have been
followed, subject to any material departures disclosed and
explained in the financial statements; and
-- prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the Company will
continue in business;
and the Directors confirm that they have done so.
For and on behalf of the Board
Gill Nott
Chairman
15(th) June 2018
STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHSED 30TH APRIL 2018
(Unaudited) (Unaudited) (Audited)
Six months ended Six months ended Year ended
30th April 2018 30th April 2017 31st October 2017
Revenue Capital Total Revenue Capital Total Revenue Capital Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Gains on
investments
held at fair
value
through profit or
loss - 5,069 5,069 - 17,281 17,281 - 17,750 17,750
Net foreign
currency
losses - (55) (55) - (58) (58) - (42) (42)
Income from
investments 3,102 - 3,102 2,519 - 2,519 15,957 - 15,957
Interest
receivable
and similar
income 17 - 17 8 - 8 23 - 23
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Gross return 3,119 5,014 8,133 2,527 17,223 19,750 15,980 17,708 33,688
Management fee (313) (1,253) (1,566) (305) (1,219) (1,524) (598) (2,391) (2,989)
Other
administrative
expenses (395) - (395) (365) - (365) (1,017) - (1,017)
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Net return on
ordinary
activities before
finance costs and
taxation 2,411 3,761 6,172 1,857 16,004 17,861 14,365 15,317 29,682
Finance costs - (1) (1) - - - - - -
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Net return on
ordinary
activities before
taxation 2,411 3,760 6,171 1,857 16,004 17,861 14,365 15,317 29,682
Taxation
(charge)/credit (223) - (223) (397) 237 (160) (1,822) - (1,822)
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Net return on
ordinary
activities after
taxation 2,188 3,760 5,948 1,460 16,241 17,701 12,543 15,317 27,860
------------------- -------- --------- --------- -------- --------- --------- --------- --------- ---------
Return per share
(note 3) 4.22p 7.24p 11.46p 2.79p 31.03p 33.82p 23.97p 29.27p 53.24p
STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHSED 30TH APRIL 2018
Called Capital
up
share redemption Other Capital Revenue
capital reserve reserve Reserves Reserve Total
1 1
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
----------------------------------- -------- ----------- -------- --------- ---------- ----------
Six months ended 30th April
2018 (Unaudited)
At 31st October 2017 523 78 46,838 245,854 7,068 300,361
Repurchase and cancellation of
the Company's own shares (12) 12 (6,420) - - (6,420)
Net return on ordinary activities - - - 3,760 2,188 5,948
Dividend paid in the period (note
4) - - - - (3,119) (3,119)
----------------------------------- -------- ----------- -------- --------- ---------- ----------
At 30th April 2018 511 90 40,418 249,614 6,137 296,770
----------------------------------- -------- ----------- -------- --------- ---------- ----------
Six months ended 30th April
2017 (Unaudited)
At 31st October 2016 524 77 47,204 230,537 6,552 284,894
Net return on ordinary activities - - - 16,241 1,460 17,701
Dividend paid in the period (note
4) - - - - (4,187) (4,187)
----------------------------------- -------- ----------- -------- --------- ---------- ----------
At 30th April 2017 524 77 47,204 246,778 3,825 298,408
----------------------------------- -------- ----------- -------- --------- ---------- ----------
Year ended 31st October 2017
(Audited)
At 31st October 2016 524 77 47,204 230,537 6,552 284,894
Repurchase and cancellation of
the Company's own shares (1) 1 (366) - - (366)
Net return on ordinary activities - - - 15,317 12,543 27,860
Dividends paid in the year (note
4) - - - - (12,027) (12,027)
----------------------------------- -------- ----------- -------- --------- ---------- ----------
At 31st October 2017 523 78 46,838 245,854 7,068 300,361
----------------------------------- -------- ----------- -------- --------- ---------- ----------
1 These reserves form distributable reserves of the Company and
may be used to fund distribution of profits to investors via
dividend payments.
STATEMENT OF FINANCIAL POSITION AT 30TH APRIL 2018
(Unaudited) (Unaudited) (Audited)
30th April 30th April 31st October
2018 2017 2017
GBP'000 GBP'000 GBP'000
---------------------------------------- ------------ ------------ -------------
Fixed assets
Investments held at fair value through
profit or loss 294,504 297,491 294,066
Current assets
Derivative financial assets 1 - -
Debtors 1,659 377 5,145
Cash and cash equivalents 1,789 3,020 1,281
---------------------------------------- ------------ ------------ -------------
3,449 3,397 6,426
Current liabilities
Creditors: amounts falling due within
one year (1,183) (2,480) (131)
---------------------------------------- ------------ ------------ -------------
Net current assets 2,266 917 6,295
---------------------------------------- ------------ ------------ -------------
Total assets less current liabilities 296,770 298,408 300,361
---------------------------------------- ------------ ------------ -------------
Net assets 296,770 298,408 300,361
---------------------------------------- ------------ ------------ -------------
Capital and reserves
Called up share capital 511 524 523
Capital redemption reserve 90 77 78
Other reserve 40,418 47,204 46,838
Capital reserves 249,614 246,778 245,854
Revenue reserve 6,137 3,825 7,068
---------------------------------------- ------------ ------------ -------------
Total shareholders' funds 296,770 298,408 300,361
---------------------------------------- ------------ ------------ -------------
Net asset value per share (note 5) 581.5p 570.2p 574.7p
---------------------------------------- ------------ ------------ -------------
STATEMENT OF CASH FLOWS
FOR THE SIX MONTHSED 30TH APRIL 2018
(Unaudited) (Unaudited) (Audited)
Six months Six months Year ended
ended ended
30th April 30th April 31st October
2018 2017 2017
GBP'000 GBP'000 GBP'000
-------------------------------------------------- ------------ ------------ -------------
Net cash outflow from operations before
dividends and interest (2,007) (1,879) (4,030)
Dividends received 3,426 2,350 13,540
Interest received 17 8 23
Overseas tax paid - (52) (53)
Interest paid (1) - -
-------------------------------------------------- ------------ ------------ -------------
Net cash inflow from operating activities 1,435 427 9,480
-------------------------------------------------- ------------ ------------ -------------
Purchases of investments (40,515) (64,283) (101,778)
Sales of investments 48,845 65,992 100,857
Settlement of forward currency contracts (9) (26) (26)
-------------------------------------------------- ------------ ------------ -------------
Net cash inflow/(outflow) from investing
activities 8,321 1,683 (947)
-------------------------------------------------- ------------ ------------ -------------
Repurchase and cancellation of the Company's
own shares (6,142) - (364)
Dividends paid (3,108) (4,187) (12,038)
-------------------------------------------------- ------------ ------------ -------------
Net cash outflow from financing activities (9,250) (4,187) (12,402)
-------------------------------------------------- ------------ ------------ -------------
Increase/(decrease) in cash and cash equivalents 506 (2,077) (3,869)
-------------------------------------------------- ------------ ------------ -------------
Cash and cash equivalents at start of
period/year 1,281 5,150 5,150
Exchange movements 2 (53) -
Cash and cash equivalents at end of period/year 1,789 3,020 1,281
-------------------------------------------------- ------------ ------------ -------------
Increase/(decrease) in cash and cash equivalents 506 (2,077) (3,869)
-------------------------------------------------- ------------ ------------ -------------
Cash and cash equivalents consist of:
Cash and short term deposits 519 3,020 253
Cash held in JPMorgan US Dollar Liquidity
Fund 1,270 - 1,028
-------------------------------------------------- ------------ ------------ -------------
Total 1,789 3,020 1,281
-------------------------------------------------- ------------ ------------ -------------
NOTES TO THE FINANCIAL STATEMENTS FOR THE SIX MONTHSED 30TH
APRIL 2018
1. Financial statements
The information contained within the financial statements in
this half year report has not been audited or reviewed by the
Company's auditors.
The figures and financial information for the year ended 31st
October 2017 are extracted from the latest published financial
statements of the Company and do not constitute statutory accounts
for that year. Those financial statements have been delivered to
the Registrar of Companies and including the report of the auditors
which was unqualified and did not contain a statement under either
section 498(2) or 498(3) of the Companies Act 2006.
2. Accounting policies
The financial statements have been prepared in accordance with
the Companies Act 2006, FRS 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland' of the United Kingdom
Generally Accepted Accounting Practice ('UK GAAP') and with the
Statement of Recommended Practice 'Financial Statements of
Investment Trust Companies and Venture Capital Trusts' (the revised
'SORP') issued by the Association of Investment Companies in
November 2014 and updated in February 2018.
FRS 104, 'Interim Financial Reporting', issued by the Financial
Reporting Council ('FRC') in March 2015 has been applied in
preparing this condensed set of financial statements for the six
months ended 30th April 2018.
All of the Company's operations are of a continuing nature.
The accounting policies applied to this condensed set of
financial statements are consistent with those applied in the
financial statements for the year ended 31st October 2017.
3. Return per share
(Unaudited) (Unaudited) (Audited)
Six months Six months Year ended
ended ended
30th April 30th April 31st October
2018 2017 2017
GBP'000 GBP'000 GBP'000
----------------------------------- ------------ ------------ -------------
Return per share is based on
the following:
Revenue return 2,188 1,460 12,543
Capital return 3,760 16,241 15,317
----------------------------------- ------------ ------------ -------------
Total return 5,948 17,701 27,860
----------------------------------- ------------ ------------ -------------
Weighted average number of shares
in issue 51,899,865 52,337,112 52,325,194
Revenue return per share 4.22p 2.79p 23.97p
Capital return per share 7.24p 31.03p 29.27p
----------------------------------- ------------ ------------ -------------
Total return per share 11.46p 33.82p 53.24p
----------------------------------- ------------ ------------ -------------
4. Dividends paid
(Unaudited) (Unaudited) (Audited)
Six months Six months Year ended
ended ended
30th April 30th April 31st October
2018 2017 2017
GBP'000 GBP'000 GBP'000
-------------------------------- ------------ ------------ -------------
2017 final dividend of 6.0p
(2016: 8.0p) 3,119 4,187 4,187
2017 interim dividend of 15.0p - - 7,840
-------------------------------- ------------ ------------ -------------
Total dividends paid in the
period/year 3,119 4,187 12,027
-------------------------------- ------------ ------------ -------------
All dividends paid in the period/year have been funded from the
revenue reserve.
The 2018 interim dividend is expected to be payable in October
2018.
5. Net asset value per share
(Unaudited) (Unaudited) (Audited)
Six months Six months Year ended
ended ended
30th April 30th April 31st October
2018 2017 2017
--------------------------- ------------ ------------ -------------
Net assets (GBP'000) 296,770 298,408 300,361
Number of shares in issue 51,035,669 52,337,112 52,262,112
--------------------------- ------------ ------------ -------------
Net asset value per share 581.5p 570.2p 574.7p
--------------------------- ------------ ------------ -------------
JPMORGAN FUNDS LIMITED
18th June 2018
For further information, please contact:
Paul Winship
For and on behalf of
JPMorgan Funds Limited
020 7742 4000
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
JPMORGAN FUNDS LIMITED
ENDS
A copy of the half year will be submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.hemscott.com/nsm.do
The half year will also shortly be available on the Company's
website at www. www.jpmrussian.co.uk where up to date information
on the Company, including daily NAV and share prices, factsheets
and portfolio information can also be found.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IR EAEKPFSXPEFF
(END) Dow Jones Newswires
June 18, 2018 06:59 ET (10:59 GMT)
Jpmorgan Russian Securit... (LSE:JRS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Jpmorgan Russian Securit... (LSE:JRS)
Historical Stock Chart
From Apr 2023 to Apr 2024