Ukraine Crisis Response

The War in Ukraine is distressing for all those caught up in the conflict. It has shaken the world and united many to condemn these actions.  As a business, our foremost thoughts are with the people of Ukraine and all those who are being affected by the current tragic events.

The war has created uncertainty on the world stage and led to volatility in investment markets. As such, we are actively taking a number of steps for the schemes where we are appointed as professional trustee. Our priority is always to ensure the interests of members are protected during this uncertain period.

Our attention is currently focused on:

• Understanding the allocations to asset classes, sectors or funds which have specific exposure to the conflict;
• Gauging whether there are material asset or investment transfers pending;
• Assessing the short-term liquidity needs of the scheme and how those needs might be affected by margin calls and the need to meet short-term member benefit payments;
• Working with employers and advisers to understand whether the scheme’s covenant has been affected, for example through any direct impacts to employer operations, where suppliers or customers are impacted, or through broader factors such as increased inflation and rising input costs; and
• Identifying whether any payments to beneficiaries could be impacted as a result of the beneficiary’s location e.g. Ukraine, Russia or Belarus.

We are working hard to ensure each scheme’s position and exposure is understood and to put in place any measures that are necessary.

Ross Trustees has donated to a charity supporting refugees fleeing the conflict.

If you have any questions regarding a specific scheme, please do not hesitate to contact us via your normal scheme contact or contact info@rosstrustees.com. This email address is monitored regularly. Please bear with us if we are unable to provide all of the answers immediately.

WHAT'S NEW?