BlackRock Inc’s total client exposure to Russia has declined to less than $1 billion from $18 billion a month ago, before Moscow’s invasion of Ukraine led to Western sanctions and the closure of the Russian stock market, according to figures supplied by the asset manager on Friday.
Morningstar data through Feb. 25 had shown BlackRock had around $5 billion in exposure to Russia, among many large U.S. asset managers with investments there.
BlackRock last week said it had suspended the purchase of all Russian securities and given the figure that Russian securities accounted for less than 0.01% of its $10 trillion in assets. Most of BlackRock’s remaining exposure is through index strategies.
Read more: Reuters
