Providers with sub-advised funds explain action on Russia

Follows Quilter Investors move

Following the announcement from Quilter Investors last week that it had barred its third-party managers from investing in Russia or Belarus, Investment Week asked other firms that have sub-advised funds about what action they had taken.

Openwork was the most proactive, instructing its third-party managers to remove its direct exposure to Russian and Ukrainian holdings in mid-February. A spokesperson from the Openwork Partnership said: "The core focus was to protect our advisers and their clients and this decision has been very well received." Part of the problem for managers being instructed to reduce exposure to Russia following the invasion is that markets were closed, so managers cannot buy or sell assets. Russia-Ukraine war spurs increased investor vigilance of where cash allocated Acknowledging that issue ...