Stock Groups

Factbox-The funds that have large Russia exposure -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A crowd walks past Moscow’s Central Bank headquarters on Tuesday, February 11, 2019. REUTERS/Maxim Shemetov

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By Davide Barbuscia

NEW YORK (Reuters), Russian foreign investors have tens billions invested in Russia’s bonds and stocks, according Morningstar data.

According to the latest portfolio data available, U.S. asset manager Capital Group, Blackrock (NYSE 🙂 and Vanguard reported large exposures.

These disclosures span the time period from September 2021 up to February 25th, 2019. Morningstar data estimates that the total amount of disclosures is more than $60 Billion, if you include all 100 exchange-traded and open-end funds around the globe.

The funds may not have made any changes to their position since the release of their data.

Harving Loevner spokesperson confirmed Morningstar numbers and MFS Investment Management spokesperson said that exposure was approximately $1 billion at the end January. MFS Investment Management spokesperson added that the firm is closely monitoring the situation to determine the impact on investments.

While most other asset managers refused to provide details, some did.

TOP 10 FUNDS

* Invesco Developing Markets Fund: $3.6 bln (equity)

* PIMCO Income Fund: $3.57 bln (fixed income)

* Vanguard Total International Stock Index Fund Investor Shares: $3.56 bln (equity)

* Vanguard Emerging Markets Stock Index Fund Investor Shares: $3.13 bln (equity)

* Capital Group’s American Funds Capital World Growth and Income Fund Class A: $1.95 bln (equity)

* PIMCO GIS Income Fund Institutional USD Accumulation: $1.82 bln (fixed income)

* Goldman Sachs (NYSE:) GQG Partners International Opportunities Fund Institutional Shares: $1.72 bln (equity)

* Capital Group’s American Funds EuroPacific Growth Fund: $1.69 bln (equity)

* Fidelity® Series Emerging Markets Opportunities Fund: $1.67 bln (equity)

* iShares Core ETF: $1.49 bln (equity)

TOP ASSET MANAGERS

According to Morningstar data, and Reuters calculations, the top asset managers that have Russian exposure are:

* Capital Group: over $8 bln (equity and fixed income)

* Vanguard: around $7.8 billion (equity and fixed income)

* PIMCO: over $6 bln (fixed income)

* BlackRock: $264 mln but around $5 bln when including iShares ETFs (equity and fixed income)

* Fidelity: $4.49 bln (equity and fixed income)

AUTOTHER MANAGERS

According to Morningstar data, Reuters calculations and Morningstar data, JPMorgan (NYSE) Asset Management, GQG Partnerships, MFS Investment Management, Harding Loevner are some other investment firms that manage Russian exposures exceeding $1 bln.

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