In January, new bonds of Russian companies and shares began to be traded on the Moscow Exchange 80 foreign companies. There are also new exchange-traded mutual funds.
Part of the new bonds we do not mention. These are securities for qualified investors., bonds maturing more than 10 years from the date of publication of this material, very short papers, e.g. one-day, bonds with yields pegged to some assets and securities, which at the time of preparing the digest had obvious problems with liquidity.
Please note, that now not all securities and derivatives are available to everyone. To access a number of assets, for example, bonds with a rating below AAA, need to take a test. It is not necessary, if before October 1, 2021 the investor had transactions with such assets or if there is a status of a qualified investor. Or you can agree to the risk notice and buy assets, but maximum for 100 000 P or one lot.
We remind, that from 2021 on coupons of any bonds are withheld tax at a rate of 13% for tax residents of the Russian Federation and 30% for non-residents. This can be avoided, if you are a resident of the Russian Federation and you have IIS, at the closing of which you will apply the type B deduction.
We write the coupon size and the yield before taxes. If you are a resident of the Russian Federation and do not apply a type B deduction for IIS, the coupon size for you will be 13% less, i.e 0,87 from the one specified in the digest. If you are a non-resident - on 30% less, or 0,7 from the specified. Respectively, profitability will be lower by about the same amount.
Bonds sorted by maturity date: from short to long. Stocks and exchange-traded funds - at the end of the material.
This is a review, not an investment recommendation. All decisions are yours to make.
Corporate bond
Sibneftekhimtrade BO-02
Issuer – Sibneftekhimtrade LLC.
Repayment — December 19, 2026. The issuer has the right to early redeem the bonds at the end of any coupon period starting from February 2024.
Nominal — 1000 R.
Coupon rate — 15% per annum. This rate is valid for the first coupon period., and February 12, 2022 will pay 12.33 R. Further, the rate will be equal to the Central Bank rate two business days before the start of the next coupon period plus 6.5 points. P. In total there will be 60 coupon periods of 30 days each.
Depreciation. The bond will be redeemed gradually: from June 2026, 14.28% of the face value will be paid with each coupon, and the remaining 14.32% will be paid on the maturity date. After depreciation payments, the coupon size in rubles will decrease.
1 February, this bond was traded at an average of 100.07% of the face value. Since the size of future coupons is tied to the Central Bank rate and is still unknown, Yield to maturity is not calculated.
Corporate bond
Novosibirsk Metal Cutting Plant BO-01
Issuer - LLC "NZRM".
Repayment — December 22, 2026.
Nominal — 1000 R.
Coupon rate — 14,75% per annum. The first coupon will be paid 16 February 2022 in the amount of 12,12 R. From July 2023, the coupon rate will be determined as the lower of the two:
- the key rate of the Central Bank of the Russian Federation on the seventh business day before the start of the corresponding coupon period plus 5,75 P. P.;
- 15,75%.
In total there will be 60 coupon periods of 30 days each.
Depreciation. The bond will be redeemed gradually: from July 2024, 7.5% of the face value will be paid once a quarter along with coupons, and the remaining 25% will be paid on the maturity date. After depreciation payments, the coupon size in rubles will decrease.
1 February, this bond was traded at an average of 102.76% of the face value. The current yield at this price is 14.35% per annum, and yield to maturity is not calculated, so the size of most future coupons is unknown.
Promotions
Foreign companies
3 shares began trading on the Moscow Exchange 80 foreign companies. Here is their list:
- Academy Sports and Outdoors.
- Ally Financial.
- Altice USA.
- American Eagle Outfitters.
- Amicus Therapeutics.
- Anaplan.
- AppHarvest.
- Ares Capital.
- Avantor.
- Blackstone.
- Blink Charging.
- Box.
- Builders FirstSource.
- Cassava Sciences.
- Change Healthcare.
- ChemoCentryx.
- Chewy.
- CleanSpark.
- Cloudflare.
- CNX Resources.
- Continental Resources.
- CoStar Group.
- CrowdStrike.
- datadog.
- Dell Technologies.
- Dick’s Sporting Goods.
- Digital Turbine.
- DocuSign.
- by Dash.
- Doximity.
- Elanco Animal Health.
- Equitrans Midstream.
- Exelixis.
- Fluor.
- GoodRx.
- Harley-Davidson.
- HollyFrontier.
- Hyliion Holdings.
- Inseego.
- Invite.
- Iovance Biotherapeutics.
- Jefferies Financial Group.
- KKR & Co.
- Kopin.
- Louisiana-Pacific.
- Magnolia Oil & Gas.
- marqeta.
- Match Group.
- Mattel.
- MGIC Investment.
- Murphy Oil.
- Nordstrom.
- Nutanix.
- Ovintiv.
- Pitney Bowes.
- Pure Storage.
- Qurate Retail.
- Range Resources.
- Year.
- SentinelOne.
- Smith & Wesson Brands.
- Sonos.
- Spirit AeroSystems.
- Spirit Airlines.
- Sprouts Farmers Market.
- Steel Dynamics.
- Switch.
- Tempur Sealy International.
- TripAdvisor.
- TuSimple Holdings.
- Twilio.
- UiPath.
- Unity Software.
- US Foods.
- Velodyne Lidar.
- Vonage Holdings.
- Xerox Holdings.
- Yum China Holdings.
- Zillow Group.
- ZoomInfo Technologies.
Bidding goes for rubles and dollars, dividends are paid in dollars. So that the tax on dividends is 10 a plus 3%, but not 30%, you must sign the W-8BEN form. How to do it, will be advised by the support staff of your broker.
Exchange traded fund
Alpha - Future Strategy (AKSF)
This exchange-traded mutual fund from Alfa Capital allows you to invest in several types of global market assets at once, including shares of Russian and American companies and bonds of issuers from developing countries.
Total AKSF Spending - up to 0,94% per year of the fund's net asset value. The Fund may use foreign ETF, who also have a commission.
Bidding goes for rubles and dollars. 1 February, one share of AKSF cost about 7.6 R, or about 0,99 $.
Exchange traded fund
VTB - European Equity Fund (VTBL)
This exchange-traded mutual fund from VTB Capital invests in shares of large European companies according to the Euro Stoxx index 50. To do this, the fund buys shares of ETF CSX5 from iShares, who reinvests dividends.
Total VTBL Spending - up to 0,89% per year of the fund's net asset value. iShares Fund Spending - 0,1% in year.
Bidding is in Euro. 1 February, one share of VTBL cost about 1,15 €.
Exchange traded fund
METIB — Promotions, market leaders (MBEQ)
This exchange-traded mutual fund, created by Raiffeisen Capital Management Company for another company, invests in shares of the largest Russian companies according to the Moscow Exchange index 15. Dividends are reinvested.
MBEQ overall spending level - up to 1,6% per year of the fund's net asset value.
Trades go for rubles. 1 February, one share of MBEQ cost about 1080 R.
Exchange traded fund
METIB — Government bonds (MBGB)
Another exchange-traded mutual fund from Raiffeisen Capital Management Company. Consists of OFZ according to the Moscow Exchange government bond index with a duration of more than a year. Coupons are reinvested.
Total Spending MBGB - up to 1,3% per year of the fund's net asset value.
Trades go for rubles. 1 February, one share of MBGB cost about 1000 R.
Exchange traded fund
Sber — Optimal global portfolio (SBOG)
This exchange-traded mutual fund from Sber Asset Management Management Company consists of shares of the USA and developing countries, government and corporate bonds of the USA and developing countries, as well as gold. To access the necessary assets, the fund uses foreign ETFs: SPY, NOBL, GLD and a few more. Dividends are reinvested.
SBOG's overall spending level is up to 0,79% per year of the fund's net asset value. The funds in its composition also have expenses, which are from 0,04 to 0,7% in year.
Trades go for rubles. 1 February, one share of SBOG cost about 10 R.
