NEW YORK (Reuters) – Global companies, banks and investors so far have disclosed nearly $131 billion in exposure to Russia, company statements show. That number could rise in the coming weeks as more companies release detail.
Here is a breakdown of what we know so far as Western sanctions in response to Russia’s invasion of Ukraine grip the Russian economy:
STOCKS AND BONDS – ESTIMATED $60 BLN FROM MUTUAL FUNDS AND ETFS
Overseas investors in Russia have tens of billions invested in the country’s stocks and bonds, according to Morningstar data. U.S. asset managers including Capital Group and Vanguard disclosed large exposures, according to the most recent portfolio information available.
Disclosures cover a period starting September 2021 through to Feb. 25 this year. They total over $60 billion when considering the top 100 open-end funds and exchange-traded funds worldwide in terms of estimated U.S. dollar exposure to Russian securities, according to Morningstar data.
Of these, some of the biggest were Capital Group Companies Inc, one of the world’s largest investment management companies, Vanguard and PIMCO.
DEBT SECURITIES – $79 BLN
JPM analysts said in a research note that foreigners own around $79 billion of Russia’s debt securities, including local currency Offs, sovereign hard currency euro bonds and corporate hard currency eurobonds.
BANKS
Bank of International Settlements data https://stats.bis.org/statx/srs/table/B4?c=RU&p= show that foreign banks have exposure of $120 billion to Russia. The exposure of U.S. banks totals $14.7 billion, BIS data shows.
Name Exposure USN
Raiffeisen 22.85
Bank billion
Internatio euros ($25
nal billion)
Societe 18.6
Generale billion
euros
($20.5
billion)
Unicredit 14.2
billion
euros
($15.7
billion)
Intesa 5.57
Sanpaolo billion
euros ($6
billion)
Citigroup $10
Inc billion
Goldman $1.06 bln
Sachs
Group Inc
Credit 1.569
Suisse billion
Swiss
francs
($1.69
billion)
BNP 3 billion
Paribas euros
($3.3
billion)
in both
Russia and
Ukraine
Deutsche 2.9
Bank billion
euros
($3.20
billion)
UBS $634
million
OIL COMPANIES
Name Exposure USN
OMV AG 1.5-1.8
billion
euro($1.6-
$2.0
billion)
Exxon $4 billion
Mobil
Shell $3 billion
Equinor $1.2
billion
ASSET MANAGERS AND FUNDS
Name Exposure USN
California $171.5
State million
Teachers’
Retirement
System
(CalSTRS)
BlackRock Less than
Inc $1 billion
Vanguard Russian
Group securities
account for
less than
0.01% of
client
assets.
Norway’s $3 billion
Sovereign
Wealth
Fund
PensionDan Bond
mark holdings
worth $60
mln (says
sold all of
it).
Aviva’s Less than
fund 0.1%
management exposure to
unit Russia
Invesco $3.6
Developing billion
Markets
Fund
Capital $8 billion
Group
Vanguard $7.8
billion
PIMCO $6 billion
Fidelity $4.49
billion
California $900 mln
Public
Employees’
Retirement
System
(CalPERS)
Source: (Company statements, Morningstar data, Reuters calculations)
(Reporting by Reuters correspondents globally; Additional reporting by Davide Barbuscia in New York and Gwladys Fouche in Oslo; Compiled by Megan Davies, Niket Nishant and Manya Saini; Edited by Alistair Bell and Barbara Lewis)
