LONDON : Fewer than a fifth of actively managed emerging market equity funds have cut their exposure to Russian stocks to zero, data from Copley Fund Research shows, with a number of funds unable to sell out.
Latest fund filing data covering 253 funds with $450 billion assets under management showed 45 funds closed out of all Russia positions between end-2021 and end-April, the Copley research found. Russia's current weighting was artificially high due to calculations still based on last trading prices from before the war for some stocks such as Sberbank, Holden said.
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