Managers and boards of investment trusts with exposure to Russia have begun issuing statements regarding their Russian holdings in light of the evolving crisis in the Ukraine and the sanctions being imposed.
According to FE fundinfo, ten trusts within the Association of Investment Companies universe have exposure to Russia. However, the database still includes abrdn China trust, which the asset manager confirmed does not have exposure to Russia. Prior to 26 October 2021, the company's investment policy was to invest in emerging market funds of funds. Yesterday (2 March), Fidelity Emerging Market trust released its half-year report and in it the chair noted the company had "an above-benchmark allocation to Russian companies going into this crisis, reflecting the investment manager's positiv...
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