BlackRock, the world’s largest investment firm, announced that it has suspended the purchase of Russian securities, both in funds it manages directly and in those that track indices, in response to the invasion of Ukraine.
“In light of the Russian invasion of Ukraine, BlackRock on Monday, February 28, suspended the purchase of all Russian securities in our active and index funds.”, said in a statement Rich Kushel and Salim Ramji, two senior BlackRock executives.
They explained that the firm has also asked index providers to remove Russian stocks from their lists, something that several of those companies are doing, with measures taking effect next week.
“We will continue to consult with regulators, index providers and other market participants to help ensure that our clients can exit their positions in Russian securities when and where market and regulatory conditions allow.Kushel and Ramji noted.
According to BlackRock, Russian stocks currently account for less than 0.01% of its clients’ assets, mostly through indices.
The American investment fund manages a gigantic portfolio of assets, which at the end of last year exceeded US$ 10 billion.
BlackRock’s measure is added to those that have been taken in recent days by countless companies from all sectors in response to the Russian invasion of Ukraine.
Source: Gestion
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