Top mutual fund manager Vanguard Group said on Friday it will adhere to international sanctions being imposed on Russia in the wake of Moscow’s invasion of Ukraine, but will not restrict the investment decisions of managers of its actively-managed funds.
In a blog post on Friday addressing investments in Russia, Vanguard Chief Investment Officer Greg Davis said that managers of its actively-managed funds “will decide how best to navigate liquidity challenges and balance investment risks with potential rewards.”
Although best known for its passive index funds, the closely-held US firm runs actively-managed funds with about $1.7 trillion in assets, the company said. Total assets were $8.1 trillion as of January 31.
(Reporting by Ross Kerber; Editing by Kim Coghill)