U.S. funds reviewing next steps in light of sanctions against Russia
Federal mandates for sanctioning Russian financial institutions are prompting several U.S. public pension funds to assess their portfolios.
Brad Lander, New York City Comptroller and fiduciary of the $266.7 billion New York City Retirement Systems, said in a statement Monday that while the system’s five pension funds make individual investment decisions, including those related to divestment, he plans to present to trustees a list of assets to consider divesting.
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The pension funds’ holdings will be compared with a White House list of companies and individuals being considered for sanctions, as well as legal review, Mr. Lander said in an emailed statement.
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“Russia’s aggression in Ukraine merits the swift global action we’ve already begun to see to cut President Putin and the oligarchs who enable him off from the global financial system. We are watching developments in Ukraine with great concern and following responses by fellow institutional investors closely,” Mr. Lander said.
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The U.S. sanctions also prompted Colorado Gov. Jared Polis on Thursday to request officials with the $61 billion Colorado Public Employees’ Retirement Association, Denver, follow suit.
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