By Carolyn Cohn and Iain Withers
LONDON (Reuters) – British pension fund managers are writing off billions of pounds of frozen Russian assets held for their members as they run out of options to sell them safely, adding to the risks to their funding positions from Russia’s invasion of Ukraine.
The funds have in many cases marked those assets down in value, after the invasion last month – which Russia calls a “special military operation” – led to rounds of sanctions by Western governments and countermeasures by Russia.There are around two trillion pounds ($2.64 trillion) of assets in defined benefit, or […]
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