U.S. funds remain vigilant over exposure to Russian securities
U.S. pension funds large and small are monitoring their portfolios for exposure to Russian securities and are asking their money managers to divest those investments as Russia continues to wage war in Ukraine.
Members of the investment staff of the $41 billion defined benefit plan of Indiana Public Retirement System, Indianapolis, have been “actively monitoring and managing its Russian-related investments leading into and throughout the invasion into Ukraine,” a statement from the fund said.
Indiana Gov. Eric J. Holcomb issued an executive order on Feb. 28 requiring that INPRS to report “any and all Russian-related investments. INPRS reported that the system had investments totaling $147 million in Russian securities as of Feb. 28, the statement said.
“Given widespread economic and trading restrictions, INPRS has concluded that it is no longer prudent to invest in Russian securities. INPRS will continue collaborating with its investment managers to divest any remaining Russian-related investments as soon as it is prudently possible,” according to the statement.
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