More U.K., European investors move away from Russia
Asset owners and managers across the U.K. and Europe continued moving away from Russian investments following the invasion of Ukraine.
The Swedish Pensions Agency on Monday placed an immediate ban on purchasing Russian funds. “We are stopping the possibility of buying the funds that focus most heavily on investments in Russia. This is done to protect pension savers,” said Erik Fransson, head of fund management for the SPA, in a news release. SPA has 2.1 trillion (232 billion) Swedish kronor in assets as of Dec. 31.
The purchase ban was introduced to investigate the funds’ continued suitability, including counterparty risks, operational risks, and the return and risk profile of the funds. The ban does not prevent the sale of the funds, as long as the fund companies still offer trading, the news release said. The halted funds are Swedbank Robur Russia Fund A, Nordea Russia Fund, Carnegie Russia Fund A and East Capital Russia.
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