Following the decision of the ABN AMRO Investment Committee, on Monday 21 and Tuesday 22 February we reduced the exposure to shares in particular in order to move from an overweight to a neutral equity position.
Before the beginning of the war we had a low exposure to:
- Russian shares in ABN AMRO Profielfonds 2 to 6, from the mandates Sands Emerging Markets Equities and M&G Emerging Markets Equities.
- Russian and Ukrainian bonds in ABN AMRO Profielfonds 1 to 5, from the mandates Barings Emerging Markets Bonds and Barings Global High Yield Bonds.
Since then, exposure to Russian equities has fallen sharply as the Sands Emerging Markets Equities mandate sold its 2 Russian stocks on February 25 and due to imbalance in the market. On 9 March, exposure was close to 0%.
Our exposure to Russian and Ukrainian bonds was around 0.1% on 9 March, reflecting the imbalance in the market.