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Canadian asset manager Purpose Investments divests of direct holdings of Russian companies

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BlackRock, the world’s largest asset manager, suspends purchase of all Russian securities in its active and index funds

Canadian asset manager Purpose Investments said on Thursday it had divested all direct holdings of Russian companies as of Feb. 28 and pledged to stop new investments as long as Russia’s invasion continued.

BlackRock, the world’s largest asset manager, suspended the purchase of all Russian securities in its active and index funds on Monday, two executives said, in light of Russia’s invasion of Ukraine. BlackRock said earlier this week it was consulting with regulators, index providers, and other market participants to ensure its clients could exit their positions in Russian securities, where allowed.

 

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