April 2021 will go down in MICEX history, that 21 new exchange-traded funds arose at once in a month. If you didn't have enough before ETF and BPIFs - at the moment you can almost certainly find something, what will be to your taste.
Naturally, funds are not the only replenishment of the assortment. Usually there were many new bonds of the organization from Russia, shares of a Russian timber holding company, also a new portion of shares of foreign companies.
Part of the new bonds we do not mention. These are papers for trained financiers, bonds maturing more than ten years from the date of publication of this material, extremely short papers, for example one-day, investment bonds with performance pegged to some assets and securities, who at the time of preparing the digest had obvious difficulties with solvency.
From 2021, all bonds are withheld from coupons tax at a rate of thirteen percent for residents of Russia and thirty percent for non-residents. This can really be avoided, if you have IIS, at the closing of which you will apply the type B deduction. We write coupon size and efficiency before tax payments. If you are a resident of Russia and do not apply a type B deduction for IIS, the coupon size for you will be thirteen percent less, in other words 0,87 from indicated in the digest. If you are a non-resident - thirty percent less, or 0,7 from designated. Consequently, efficiency will be lower by about the same amount.
Bonds sorted by type: initially sub-federal, later corporate. Inside types - by maturity: small to long. Stocks and exchange-traded funds - at the end of the material.
This is a review, but not an investment recommendation. All decisions you make without the help of others.
And where are these papers in Tinkoff investments?
Readers ask in the comments, why almost all new securities cannot be purchased at Tinkoff Investments. The bottom line is, that new papers get there later: first of all there are those, for which measured highest liquidity. If the paper from the review is already available in Tinkoff Attachments, we will put a link to it in the fields.
However, the digest Т—Ж is not tied to Tinkoff investments: we study the news of the exchange in general and cannot ignore those readers, who uses the services of other brokers.
Sub-federal bond
Moscow 25072
Issuer — department of money of the city of Moscow.
Repayment — 23 April 2024.
Nominal — 1000 R.
Coupon rate — 6,55 % per annum. There will be 6 coupon periods of 182 days each. 1-the first coupon will be paid on October 26, 2021, its size will be 32,66 R.
30 April, this bond was traded on average for 100,11 % denomination. The current efficiency at this cost is 6.54 %, ordinary efficiency to maturity — 6,5 %, effective efficiency to maturity - 6,61 % per annum.
Corporate bond
VTB B-1-204
Issuer — PJSC VTB Bank.
Repayment — 1 April 2022.
Nominal — 1000 R.
Coupon rate — 5,05% per annum. There will be 4 coupon periods of 91 days each. 1-th will end on July 2, 2021, will pay 12,59 R.
30 April, this bond was traded on average for 99,53 % denomination. The current efficiency at this cost is 5.07%, ordinary efficiency to maturity — 5,57 %, effective efficiency to maturity - 5,69 % per annum.
Corporate bond
Savings Bank 001Р-SBER24
Issuer — PJSC Savings Bank.
Repayment — 6 October 2023.
Nominal — 1000 R.
Coupon rate — 6,65 % per annum. There will be 5 coupon periods of 182 days each, 1-th coupon will be paid 8 October 2021 in the amount of 33,16 R.
30 April, this bond was traded on average for 100,44 % denomination. The current efficiency at this cost is 6.62 %, ordinary efficiency to maturity — 6,42 %, effective efficiency to maturity - 6,55 % per annum.
Corporate bond
Lingonberry 001Р-02
Issuer — LTD "Brusnika". Construction and development».
Repayment — 1 April 2024.
Nominal — 1000 R.
Coupon rate — 9,6% per annum. There will be 12 coupon periods of 91 days each, the first coupon will be paid on July 5, 2021 in the amount of 23,93 R.
30 April, this bond traded at an average of 99.59% of par. The current yield at this price is 9.64%, simple yield to maturity — 9,71%, effective yield to maturity — 10.12% per annum.
Corporate bond
EBIS BO-P04
Issuer — EBIS LLC.
Repayment — 9 April 2024.
Nominal — 1000 R.
Coupon rate — 12% per annum. There will be 12 coupon periods of 91 days each, the first coupon will be paid on July 13, 2021 in the amount of 29.92 R.
30 April, this bond was traded at an average of 100.54% of the face value. The current yield at this price is 11.94%, simple yield to maturity — 11,69%, effective yield to maturity — 12.31% per annum.
Corporate bond
Agroholding Solton BO-01
Issuer – Agroholding Solton LLC.
Repayment — 14 April 2024.
Nominal — 1000 R.
Coupon rate — 13% per annum. There will be 36 coupon periods of 30 days each. The first payment will take place 30 May 2021 in the amount of RUB 10.68.
30 April, this bond traded on average for 101.78% of the face value. The current yield at this price is 12.77%, simple yield to maturity — 12,18%, effective yield to maturity — 12.99% per annum.
Corporate bond
ER-Telecom Holding PBO-05
Issuer — ER-Telecom Holding JSC.
Repayment — 15 April 2024.
Nominal — 1000 R.
Coupon rate — 8,4% per annum. There will be 12 coupon periods of 91 days each. The first payment is scheduled for July 19, 2021 and is equal to RUR 20.94.
30 April, this bond traded on average for 101.16% of the face value. The current yield at this price is 8.3%, simple yield to maturity — 7,9%, effective yield to maturity — 8.2% per annum.
Corporate bond
Settle Group 001P-03
Issuer — Setl group LLC.
Repayment — 17 April 2024.
Nominal — 1000 R.
Coupon rate — 8,5% per annum. There will be 12 coupon periods of 91 days each, the first coupon will be paid on July 21, 2021 in the amount of 21.19 R.
30 April, this bond was traded on average for 100,5% denomination. The current yield at this price is 8,46%, simple yield to maturity — 8,27%, effective yield to maturity - 8,57% per annum.
Corporate bond
FES-Agro BO-02
Issuer — LLC "FES-agro".
Repayment - April 17, 2024.
Nominal — 1000 R.
Coupon rate — 11% per annum. There will be 12 coupon periods of 91 days each, the first coupon will be paid on July 21, 2021 in the amount of 27,42 R.
Depreciation. The bond is redeemed gradually: in January 2024, together with the coupon, 50% of the face value will be paid, and the remaining 50% will be paid off in April. After the amortization payment, the coupon in rubles will decrease.
30 April, this bond was traded at an average of 101.94% of the face value. The current yield at this price is 10.79%, simple yield to maturity — 9,67%, effective yield to maturity — 10.6% per annum.
Corporate bond
Alfa-Bank 002R-11
Issuer — Alfa-Bank JSC.
Repayment — 18 April 2024.
Nominal — 1000 R.
Coupon rate — 7% per annum. There will be 6 coupon periods of 183 days each. The first payment is scheduled for October 16, 2021, its size is 35,1 R.
30 April, this bond traded at an average of 100.94% of the face value. The current yield at this price is 6.93%, simple yield to maturity — 6,6%, effective yield to maturity — 6.76% per annum.
Corporate bond
MV Finance 001R-01
Issuer — MV Finance LLC.
Repayment — 18 April 2024.
Nominal — 1000 R.
Coupon rate — 7,3% per annum. There will be 6 coupon periods of 182 days each. The first payment will take place on October 21, 2021, its size is 36,4 R. In April 2023, the coupon rate and, respectively, coupon size may change, so be careful.
Offer. If you don't like the new coupon, it will be possible to ask the issuer to redeem bonds ahead of schedule, using the offer. She is scheduled for April 25, 2023, applications for participation in it must be submitted from 14 on 20 April. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
30 April, this bond was traded on average for 99.99% of the par. The current yield at this price is 7.3%, simple yield to the offer — 7,29%, effective yield to offer — 7.44% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
EconomLeasing 001Р-03
Issuer — LLC "Economleasing".
Repayment — 18 April 2024.
Nominal — 1000 R.
Coupon rate — 11,5% per annum. There will be 12 coupon periods of 91 days each. The first payment is scheduled for July 22, 2021, its size is 28,67 R.
30 April, this bond was traded on average for 100,02% denomination. The current yield at this price is 11,5%, simple yield to maturity — 11,46%, effective yield to maturity - 12% per annum.
Corporate bond
RN Bank BO 001R-08
Issuer — RN Bank JSC.
Repayment — 23 April 2024.
Nominal — 1000 R.
Coupon rate — 10,35% per annum. There will be 6 coupon periods of 183 days each. The first payment is scheduled for October 21, 2021, its size is 37,1 R.
30 April, this bond was traded at an average of 100.46% of the face value. The current yield at this price is 7.37%, simple yield to maturity — 7,2%, effective yield to maturity — 7.35% per annum.
Corporate bond
YATEK 001R-02
Issuer — PJSC "YATEK".
Repayment — 7 April 2025.
Nominal — 1000 R.
Coupon rate — 9,15% per annum. There will be 8 coupon periods of 182 days each. The first payment is scheduled for October 11, 2021, its size is 45,62 R.
Depreciation. The bond is redeemed gradually: starting from October 2023, together with each coupon, 20% of the face value will be paid. The last 40% of the face value will be paid in April 2025. After each depreciation payment, the coupon in rubles will decrease.
30 April, this bond was traded on average for 99.99% of the par. The current yield at this price is 9.15%, simple yield to maturity — 7,73%, effective yield to maturity — 9.36% per annum.
Corporate bond
Legend 001P-04
Issuer — LLC "Legenda".
Repayment — 8 April 2025.
Nominal — 1000 R.
Coupon rate — 9,95% per annum. There will be 16 coupon periods, the first will last 98 days, the rest - for 91 days. The first payment is scheduled for July 13, 2021, its size is 26,72 R. The second coupon and coupons after it are equal to 24,81 R.
Depreciation. The bond is redeemed gradually: in July 2024, 50% of the face value will be paid along with the coupon, in October - 20%, in January and April 2025 - until 15%. After each depreciation payment, the coupon in rubles will decrease.
30 April, this bond traded at an average of 99.97% of par. The current yield at this price is 9.95%, simple yield to maturity — 8,61%, effective yield to maturity — 10.34% per annum.
Corporate bond
Manych-Agro BO-01
Issuer – Manych-agro LLC.
Repayment — 25 April 2025.
Nominal — 1000 R.
Coupon rate — 12% per annum. There will be 16 coupon periods for 91 day every day. The first payment is scheduled for July 30, 2021, its size is 29,92 R.
Depreciation. The bond is redeemed gradually: starting from July 2024, together with each coupon, 25% of the face value will be paid. Last 25% of par, thus, will be paid in April 2025. After each depreciation payment, the coupon in rubles will decrease.
30 April, this bond was traded at an average of 100.51% of the face value. The current yield at this price is 11.94%, simple yield to maturity — 11,6%, effective yield to maturity — 12.4% per annum.
Corporate bond
Sberbank 001Р-SBER25
Issuer — PJSC "Sberbank".
Repayment — 9 April 2026.
Nominal — 1000 R.
Coupon rate — 7,45% per annum. There will be 10 coupon periods of 182 days each. The first payment is scheduled for October 14, 2021, its size is 37,15 R.
30 April, this bond was traded on average at 101.85% of par. The current yield at this price is 7.31%, simple yield to maturity — 6,93%, effective yield to maturity — 7.12% per annum.
Corporate bond
HC Novotrans 001R-02
Issuer — JSC "HK "Novotrans"".
Repayment — 16 April 2026.
Nominal — 1000 R.
Coupon rate — 9,15% per annum. There will be 20 coupon periods of 91 days each. The first payment is scheduled for July 22, 2021, its size is 22,81 R.
Depreciation. The bond is redeemed gradually: from July 2024, together with coupons, they will pay 12.5% of the face value. After each depreciation payment, the coupon in rubles will decrease.
30 April, this bond traded on average for 100.19% of the face value. The current yield at this price is 9.13%, simple yield to maturity — 7,47%, effective yield to maturity — 9.41% per annum.
Corporate bond
VEB. RF PBO 001R-26
Issuer — VEB.RF.
Repayment — 18 April 2028.
Nominal — 1000 R.
Coupon rate — 8,13% per annum. There will be 14 coupon periods of 182 days each. The first payment is scheduled for October 26, 2021, its size is 40,54 R.
30 April, this bond traded on average for 101.75% of the face value. The current yield at this price is 7.99%, simple yield to maturity — 7,74%, effective yield to maturity — 7.95% per annum.
Promotions
Foreign companies
1 April, shares and depositary receipts began to be traded on the Moscow Exchange immediately 18 large foreign companies. Here is their list:
- Applied Materials.
- Boston Scientific.
- ConocoPhillips.
- Eli Lilly and Company.
- Fiserv.
- Illumina.
- Kroger.
- Lam Research.
- Lowe’s Companies.
- Marathon Petroleum.
- Occidental Petroleum.
- Raytheon Technologies.
- ServiceNow.
- Southwestern Energy.
- Thermo Fisher Scientific.
- Union Pacific.
- United Parcel Service.
- Vertex Pharmaceuticals.
Trades go for rubles, 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.
Share
GC Segezha (SGZH)
The initial public offering of shares of the Segezha group of companies took place on the Moscow Exchange. It is a large timber industry holding, papermaker, Packaging, lumber, etc.. d. If you want to know more about the company, read the article, which we released before the IPO.
Trades go for rubles. 30 April alone stock cost about 7,8 R.
Exchange traded fund
FinEx - Developed Market Equities Excluding US (FXDM)
This FinEx ETF consists of shares of companies from developed countries, excluding USA. The portfolio contains stocks of Japanese, British, German and other companies, only about 200 pieces. Received dividends are reinvested.
Overall ETF Spending Rate - 0,9% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus included in the exchange price of FXDM.
Bidding goes for rubles and dollars. 30 April one share of FXDM was worth about 76 R, or 1,01 $.
Exchange traded fund
FinEx - High yield corporate bonds of developed countries (FXFA)
This ETF from FinEx consists of "fallen angels" - corporate bonds, whose rating fell below investment grade. The fund has about 60 securities of different companies, for example Ford and Kraft Heinz. Received coupons are reinvested.
Overall ETF Spending Rate - 0,6% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus included in the FXFA exchange price.
Bidding goes for rubles and dollars. 30 April one share of FXDM was worth about 76 R, or 1 $.
Exchange traded fund
Aton - American Growth Stocks (AMGF)
This exchange-traded mutual fund invests in stocks of growing American companies. To do this, the fund invests in iShares Russell 1000 Growth ETF (IWF). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMGF units. There is also an IWF ETF commission, Equal 0,19%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 99 R, or 1,32 $.
Exchange traded fund
Aten - Genetic Revolution (AMGR)
This exchange-traded mutual fund invests in company stocks, engaged in genomic engineering. For this, the fund invests in the ARK Genomic Revolution ETF (ARKG). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMGR units. Also there is a commission ETF ARKG, Equal 0,75%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 97 R, or 1,3 $.
Exchange traded fund
Aton - Dividends (AMDG)
This exchange-traded mutual fund invests in US stocks, paying and increasing dividends. To do this, the fund invests in the Vanguard Dividend Appreciation ETF. (VIG). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMDG units. Also there is a commission ETF VIG, Equal 0,06%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 100 R, or 1,33 $.
Exchange traded fund
Aton - Income Bonds of the World (AMHY)
This exchange-traded mutual fund invests in high-yield corporate bonds of foreign issuers. For this, the fund invests in iShares iBoxx $ High Yield Corporate Bond ETF (HYG). Dividends received from the fund are reinvested.
The general level of expenses of BPIF - up to 0,7% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMHY units. There is also ETF HYG commission, Equal 0,49%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 100 R, or 1,33 $.
Exchange traded fund
Aton - Gold miners (AMGM)
This exchange-traded mutual fund from Aton-management MC invests in shares of foreign gold mining companies. To do this, the fund invests in VanEck Vectors Gold Miners ETF (GDX). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMGM units. Also there is a commission ETF GDX, Equal 0,52%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 99 R, or 1,32 $.
Exchange traded fund
Aton - Innovations (AMIN)
This exchange-traded mutual fund invests in shares of innovative companies, mainly in the field of medicine, communications and IT. To do this, the fund invests in the ARK Innovation ETF (ARKK). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually written off from the assets of the fund and are thus taken into account in the exchange price of AMIN units. Also there is a commission ETF ARKK, Equal 0,75%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 95 R, or 1,26 $.
Exchange traded fund
Aton - US Growth Leaders (AMMF)
This exchange-traded mutual fund invests in shares of American companies with a long growth trend.. To do this, the fund invests in iShares MSCI USA Momentum Factor ETF (MTUM). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMMF units. There is also ETF MTUM commission, Equal 0,15%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 100 R, or 1,33 $.
Exchange traded fund
Aton - Medical & Biotech USA (AMHC)
This exchange-traded mutual fund invests in US stocks, engaged in developments in the field of medicine and biotechnology. To do this, the fund invests in iShares U.S.. Healthcare ETF (IYH). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually written off from the assets of the fund and are thus included in the exchange price of AMHC units. Also there is a commission ETF IYH, Equal 0,43%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 101 R, or 1,35 $.
Exchange traded fund
Aton - Reliable bonds (Friend)
This exchange-traded mutual fund invests in high-quality bonds of American companies, i.e. investment grade bonds. For this, the fund invests in iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). Dividends received from ETFs are reinvested.
The general level of expenses of BPIF - up to 0,7% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMIG units. Also there is a commission ETF LQD, Equal 0,14%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 100 R, or 1,33 $.
Exchange traded fund
Aton - Undervalued US Companies (AMVF)
This exchange-traded mutual fund invests in US stocks, undervalued in terms of fundamental indicators. To do this, the fund invests in iShares Russell 1000 Value ETF (IWD). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMVF units. There is also a commission for the IWD ETF, Equal 0,19%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 100 R, or 1,33 $.
Exchange traded fund
Aton - Cloud Technologies (AMCC)
This exchange-traded mutual fund invests in company stocks, working in the field of cloud technologies. To do this, the fund invests in the First Trust Cloud Computing ETF (SKYY). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMCC units. Also there is a commission ETF SKYY, Equal 0,6%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 98,4 R, or 1,3 $.
Exchange traded fund
Aton — Russian stocks + (AMRE)
This exchange-traded mutual fund invests in shares of Russian companies, tracking the Pyotr Stolypin fund from the same management company. Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually written off from the assets of the fund and are thus taken into account in the exchange price of AMRE units.
Trades go for rubles. 30 April, one share of the fund was worth about 99 R.
Exchange traded fund
Aton — Russian bonds + (AMRB)
This exchange-traded mutual fund invests in ruble bonds, tracking the open mutual fund "Aton - Bond Fund". Received coupons are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMRB units.
Trades go for rubles. 30 April, one share of the fund was worth about 100,7 R.
Exchange traded fund
Aton - Markets of Opportunity (AMEN)
This exchange-traded mutual fund invests in stocks of companies in emerging markets, including China, Taiwan, Korea and India. To do this, the fund invests in iShares Core MSCI Emerging Markets ETF (IEMG). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMEM units. Also there is a commission ETF IEMG, Equal 0,11%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 99 R, or 1,32 $.
Exchange traded fund
Aton - Serebro (AMSL)
This exchange-traded fund invests in silver through the iShares Silver Trust (SLV). No dividends.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMSL units. There is also an ETF SLV commission, Equal 0,5%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 101 R, or 1,36 $.
Exchange traded fund
Aton - Safe Haven (AMLV)
This exchange-traded mutual fund invests in US stocks with low volatility. To do this, the fund invests in iShares MSCI USA Minimum Volatility ETF (USMV). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of AMLV units. There is also a USMV ETF commission, Equal 0,15%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 98 R, or 1,3 $.
Exchange traded fund
Aton - Digital Future (AMSC)
This exchange-traded mutual fund invests in company stocks, developing and manufacturing semiconductors. To do this, the fund invests in iShares PHLX Semiconductor ETF (SOXX). Received dividends are reinvested.
The general level of expenses of BPIF - up to 1,1% per year of the fund's net asset value. Expenses are gradually written off from the assets of the fund and are thus taken into account in the exchange price of AMSC units. There is also a SOXX ETF commission, Equal 0,46%.
Bidding goes for rubles and dollars. 30 April, one share of the fund was worth about 96,8 R, or 1,28 $.
Exchange traded fund
RSHB — Russian corporate Eurobonds, vector I.S.G (PRIE)
This exchange-traded mutual fund from RSHB asset management invests money in Eurobonds of Russian companies, focusing on ESG. Received coupons are reinvested.
The general level of expenses of BPIF - up to 0,85% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of PRIE units.
Bidding is for dollars. 30 April one share of PRIE cost about 10 $.
Exchange traded fund
Tinkoff - SPAC (TSPV)
This exchange-traded mutual fund from Tinkoff Capital invests in SPAC - shell companies, intended to bring other companies to the stock exchange. The assets of the fund have about 40 such papers.
The general level of expenses of BPIF - up to 2,99% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of TSPV units.
Bidding is for dollars. 30 April one share of TSPV cost about 0,09 $.
