PUBLICA excludes Russia from its market portfolio
Bern, 02.03.2022 - The investment committee of the Swiss Federal Pension Fund PUBLICA has resolved not to purchase any further Russian securities and divest its existing holdings.
On Monday, 28 February 2022, the Federal Council joined EU sanctions against Russia. As a result of these sanctions and its normative basis and in keeping with the concept of responsible investment, PUBLICA is excluding Russia from its market portfolio. The pension assets of the individuals who are insured with and receiving a pension from PUBLICA will not be invested in the Russian market.
“The EU and Swiss sanctions are a clear stand against Russia’s massive breach of international law. It goes without saying that PUBLICA supports this stance and has initiated the necessary measures,” Matthias Weber, president of the PUBLICA investment committee, stated.
PUBLICA has directly invested around CHF 170 million, less than 0.5 per cent of its total assets, in Russian securities. These holdings include shares in companies controlled by the Russian state and bonds denominated in US dollars and Russian roubles. At present, PUBLICA is not invested in any Ukrainian or Belarusian securities.
Due to the sanctions imposed by the EU, the Central Bank of Russia has closed the country’s stock market. This complicates the sale of securities currently held by PUBLICA. The investment committee nevertheless seeks to divest its Russian holdings as soon as market liquidity permits.
The Swiss Federal Pension Fund PUBLICA is an independent pension institution established under public law. It is organised as a collective institution currently comprising 19 pension plans. PUBLICA advises some 66,000 active members and around 42,000 pension recipients from the Federal Administration, the ETH Domain and other decentralised administrative units as well as around 70 other organisations that are closely associated with the Confederation or fulfil a public task on behalf of the Confederation, a canton or a commune.
With total assets currently standing at approximately 43,7 billion Swiss francs as of 31 December 2021 it is one of the largest pension funds in Switzerland. Its highest management and strategic body is the PUBLICA Board of Directors.
Address for enquiries
Patrick Uelfeti, Deputy Director of Asset Management PUBLICA, patrick.uelfeti@publica.ch
Beatrice Rychen, Director of Corporate Communications PUBLICA, beatrice.rychen@publica.ch
Publisher
Swiss Federal Pension Fund
http://www.publica.ch
