Marketing Info

These 10 Mutual Funds Have the Highest Exposure in Russia

(Bloomberg) — They may not have Russia to their name, but several popular mutual funds have significant investments in the country, accounting for about 17% of one’s assets.

The US-based equity mutual fund with the highest investments in Russia in percentage terms is $8.8 billion. Is GQG Partners Emerging Markets Equity FundAccording to data provided by Morningstar Direct, 16.6% of its assets, or about $1.5 billion in US dollar terms, were exposed to Russian securities at the end of September. Sberbank of Russia PJSC is one of the fund’s top 10 holdings.

The GQG Fund is down 2.5% over the past month, and is down 4.4% for the year. One fund on the list is in the green, though – $1.9 billion GMO Resources II money. That fund, which is heavy in the oil and gas and mining sectors, is up 3.4% last month and has a 4% gain for the year. Gazprom PJSC was the fund’s eighth largest holding at 2.4% as of November 30, 2021.

According to a list provided by data firm Brightscope Inc., 401(k)s are among the top 100 largest funds in Russia with significant exposure to Russian securities. It’s $45 Billion Invesco Developing MarketsRussia held 7.9% of its assets as of December 31, 2021, or about $3.4 billion in US dollar terms.

To contact the author of this story:
Susan Woolley in New York [emailĀ protected]

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