Nordea Asset Management says to withdraw from all Russian investments

LONDON, March 1 (Reuters) – Nordea Asset Management said on Tuesday it had decided to sell all of its Russian investments in response to the country’s invasion of Ukraine, including in government bonds, equities, debt business and alternatives.

The move comes as investors rush to reduce their exposure to Russia, which is facing economic turmoil amid ever-tougher sanctions aimed at forcing Russian President Vladimir Putin to call off the invasion. Russia calls its actions in Ukraine a “special operation”.

While Russia has taken steps to prevent foreign investors from selling securities to stem capital outflows, NAM said it plans to continue exiting over time, however long it takes. . Read more

“NAM has been reducing its exposure to Russia for some time and, consistent with the exclusion decision, will continue to do so to the extent possible,” it said in a statement.

NAM manages approximately €292 billion ($325.35 billion) of assets across a range of strategies across four investment centers in Bergen, Copenhagen, Helsinki and Stockholm.

($1 = 0.8975 euros)

Editing by Carolyn Cohn and Tommy Wilkes

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