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 Factbox: The funds that have large Russia exposure

People walk past the Central Bank headquarters in Moscow, Russia February 11, 2019. REUTERS/Maxim Shemetov

Factbox: The funds that have large Russia exposure

Overseas investors in Russia have tens of billions invested in the country’s stocks and bonds, according to Morningstar data.

U.S. asset managers like Capital Group, Blackrock and Vanguard disclosed large exposures, according to the most recent portfolio information available to the research firm.

Disclosures cover a period starting September 2021 through to Feb. 25 this year. They total over $60 billion when considering the top 100 open-end funds and exchange-traded funds worldwide in terms of estimated U.S. dollar exposure to Russian securities, according to Morningstar data.

It is not known if the funds have changed their positions since they released their data.

A spokesperson for Harving Loevner confirmed the Morningstar figures and a spokesperson for MFS Investment Management said exposure amounted to approximately $1 billion as of the end of January, adding the firm was monitoring the situation closely to assess impact on its investments.

Most of the other asset managers declined to comment on the specific figures, others did not respond to comment requests.


* Invesco Developing Markets Fund: $3.6 bln (equity)

* PIMCO Income Fund: $3.57 bln (fixed income)

* Vanguard Total International Stock Index Fund Investor Shares: $3.56 bln (equity)

* Vanguard Emerging Markets Stock Index Fund Investor Shares: $3.13 bln (equity)

* Capital Group’s American Funds Capital World Growth and Income Fund Class A: $1.95 bln (equity)

* PIMCO GIS Income Fund Institutional USD Accumulation: $1.82 bln (fixed income)

* Goldman Sachs GQG Partners International Opportunities Fund Institutional Shares: $1.72 bln (equity)

* Capital Group’s American Funds EuroPacific Growth Fund: $1.69 bln (equity)

* Fidelity® Series Emerging Markets Opportunities Fund: $1.67 bln (equity)

* iShares Core MSCI Emerging Markets ETF: $1.49 bln (equity)


Top asset managers with Russian exposure, according to Morningstar data and Reuters calculations:

* Capital Group: over $8 bln (equity and fixed income)

* Vanguard: around $7.8 billion (equity and fixed income)

* PIMCO: over $6 bln (fixed income)

* BlackRock: $264 mln but around $5 bln when including iShares ETFs (equity and fixed income)

* Fidelity: $4.49 bln (equity and fixed income)


Other investment firms managing Russian exposures of over $1 bln, according to Morningstar data and Reuters calculations, include: JPMorgan Asset Management, GQG Partners, MFS Investment Management, Harding Loevner.

Reporting by Davide Barbuscia; editing by Megan Davies and Sandra Maler

This article was originally published by Reuters.

Global Business Magazine

Global Business Magazine

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