Astana International Exchange Lists First ETF: ITI Funds' RUSB

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

ITI Funds

Astana International Exchange Lists First ETF: ITI Funds’ RUSB

August 17, 2019

ITI FundsRUSB is an open-ended, UCITS compliant Exchange Traded Fund incorporated in Luxembourg. The Fund’s objective is to replicate the return of the Solactive’s index ITI Funds Russia-focused USD Eurobond Index. The Fund invests in physical securities.

Kazakhstan-based Astana International Exchange, aka AIX, has listed its first exchange-traded fund: ITI Funds Russia focused USD Eurobond UCITS ETF SICAV which will be traded under the ticker RUSB with quotation and settlement in US dollars. The ETF will be fully fungible between LSE, MOEX and AIX, with trading commencing in August 2019.

ITI Funds provides portfolio managers with the infrastructure to establish funds quickly and reduce operating costs while offering a range of products to private and institutional investors. ITI Funds is held by several shareholders, including private equity funds under the management
of Da Vinci Capital and Mantra Investment Partners.

Tim Bennett, Chief Executive Officer of AIX, commented: “We are very pleased to welcome the first ETF issuer on Astana International Exchange. The listing of the first ETF on the AIX will provide investors with a simple and transparent tool to invest in various assets worldwide. The introduction of ETFs is a part of AIX’s strategy to broaden the investment options available on the capital market to support the development of the investor base in Kazakhstan.”

Gleb Yakovlev, Chief Executive Officer of ITI Funds, said: “It is our great pleasure to announce the listing of units of our Russia-focused USD ETF fund on the AIX. This listing should make our units
more attractive and accessible for local investors while giving us better visibility in Kazakhstan and providing an opportunity to broaden our investors base.”

The ITI Funds platform is currently running more than ten funds, including traditional ETFs, private-equity funds, a distressed-assets fund, and a cryptocurrency index fund.

In July 2019, AIX launched a number of innovative initiatives in order to boost international investors’ level of confidence, including Multi-Currency Settlement, which is available to Trading Members using the FIX protocol and all the data needed to use the service is displayed on the Market Watch page of the AIX exchange website.

The same month, Kazpost JSC and Renaissance Capital joined Astana International Exchange (AIX) as trading members, which will lead to thousands of Kazakhstan and foreign investors accessing the AIX platform. The operator also announced the launch of its proprietary mobile application for retail investors, “AIX Connect”, which provides users with access to exchange news and disclosures of AIX listed companies, as well as real-time market data.

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