Russia’s tragic invasion of Ukraine is having a devastating impact on those caught in the crisis. Our hearts are with the Ukrainian people and all those harmed by this war.
We are committed to providing our clients with timely information about the impact of the crisis on their investments. Our overall exposure to Russian securities — in both equity and fixed income — represents less than 0.01 percent of our total assets under management. In those portfolios that hold Russian securities, our positions are small.
We have suspended purchases of Russian securities across all our investment strategies and implemented controls in support of the sanctions against Russia. Our portfolio management teams are reviewing options to manage our exposure to Russian securities, consistent with available liquidity and our clients’ interests.
We will continue to closely monitor the crisis to understand and respond to potential impacts, and you can access our investment team’s latest perspectives on our website.
We are also taking immediate steps to help those in need. We are making charitable contributions of $1 million to aid organisations working to alleviate the suffering of Ukrainian refugees and will assess additional giving as the crisis unfolds. Additional personal contributions from our associates will be amplified through our matching gifts program.
As we have done throughout our 90-year history, we will continue to be guided by our focus on the long term, our unflinching commitment to our clients and associates, and our mission to improve people’s lives. We hope for a swift and peaceful end to this terrible conflict.