New research has revealed that 31 out of 36 fund managers, including Federated Hermes, Rathbones and Liontrust, do not have any investments in Russian-listed entities in their retail sustainable and ESG fund offerings, while the five that did typically had “very limited” holdings.
The research, which was undertaken by SRI Services to help advisers understand the relationship between Russia and sustainable fund strategies, identified BNY Mellon, Candriam, JP Morgan, and Alquity among those that have sustainable funds with one or more holdings in Russian companies. One fund manager had a single direct holding in Belarus. When asked the reason for their direct investments in Russian stocks, Candriam, BNY Mellon and JP Morgan said it was because the fund in question invests specifically in emerging markets, accounting for 0.05%, 0.56% and 1.3% exposure, respectively. ...
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