(Bloomberg) -- JPMorgan Chase & Co. is shutting an emerging-markets bond fund that tumbled about 6% since Russia invaded Ukraine.
The JPMorgan Emerging Markets Strategic Debt Fund will be liquidated at the end of April, the New York-based bank said Thursday in a regulatory filing. The fund, which debuted almost a decade ago, had $454.4 million of assets as of Wednesday.
About 4.5% of net assets were invested in Ukrainian government debt at the end of October, according to the most recent portfolio report, with 1.1% devoted to Russian government bonds. The fund also had forward foreign currency exchange contracts based on the Russian ruble's performance against the dollar.
The fund's closing isn't related to market declines stemming from Russia's attack, according to a person familiar with the matter.
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