Providers with sub-advised funds explain action on Russia

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 ...