Investment trusts from Abrdn and Neuberger Berman are set to ascend to the FTSE 250 after companies with ties to Russia were ejected from the index.
The tragic events in Ukraine have forced a reshuffle of the FTSE Russell indexes after international sanctions upended some of the changes it announced earlier this month. Four companies are being ousted – mining giants Evraz, Polymetal International and Petropavlovsk, along with Raven Property Group.
The demotion of Evraz and Polymetal from the FTSE 100 to the FTSE 250, along with Petropavlovsk’s exit from the FTSE 250, was announced on 2 March before international sanctions were imposed on individuals tied to the Kremlin.
Raven is listed on the FTSE All-Share and FTSE UK Small Cap.
See also: Quilter and Schroders stung by ex-Woodford Russian property holding
Promoted to the FTSE 250
The changes ultimately create two vacancies on the FTSE 250, opening the door to Standard Life Private Equity (SLPE) Trust and NB Private Equity Partners, which are being promoted from the FTSE UK Small Cap Index with effect from Monday.
SLPE has over £1bn of assets and holds a diversified portfolio of private equity funds and direct investments into private companies, a majority of which have a European focus.
Investment manager Alan Gauld (pictured) said the move “will enable a broader investment base to gain access to a diversified portfolio of leading private companies”.
“This news also tops off a year of important miles stones for the company. It turned 20 years old, breached the £1bn barrier in net assets and delivered record annual NAV total return growth of 37.9%.”
Neuberger Berman-run NB Private Equity Partners has over $1.4bn in assets and holds a portfolio of direct equity investments in private companies diversified across industry, vintage year and underlying private equity manager.
Latest arrivals and departure information
The full list of changes to the FTSE 250, which come into effect on Monday, are:
| Entering | Exiting |
| Clipper Logistics | Baillie Gifford Shin Nippon |
| NB Private Equity Partners | Capita |
| Ruffer Investment Company | Cineworld Group |
| Standard Life Private Equity Trust | Endeavor Mining |
| Temple Bar Investment Trust | Howden Joinery Group |
| Tullow Oil | Petropavlovsk |
| Urban Logistics Reit | Reach |
