NEW: The CIO of the UK's state-backed NEST pension plan says Russia is now an investment "no-go area"
Mark Fawcett, CIO of NEST, said over the short- and medium-term Russia looked “uninvestable”.
More follows:
Mark Fawcett, CIO of NEST, said over the short- and medium-term Russia looked “uninvestable”.
More follows:
“People (investors) are going to be very concerned about the respect for international law and property rights in Russia as a result of this action (invasion of Ukraine),” Fawcett told the FT.
“People will be cautious whether at a corporate level or pension fund level."
“People will be cautious whether at a corporate level or pension fund level."
NEST has announced plans to divest all its investments in Russian govt bonds and Russian companies "as soon as possible.”
Around 0.2 per cent of its £22bn portfolio was exposed to Russia.
Around 0.2 per cent of its £22bn portfolio was exposed to Russia.
Fawcett said it was harder to say what the investment position would be for Russia over the longer term, “as we don’t know how events will unfold”.
Pension funds around the world are looking to divest, or cut, exposure to Russia, following the country’s invasion of Ukraine.
Pension funds around the world are looking to divest, or cut, exposure to Russia, following the country’s invasion of Ukraine.
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