U.S. pension fund CalSTRS has investments in Russia, monitors risks to portfolio -statement

The national flag flutters at the Russian embassy in Kyiv, Ukraine February 10, 2022. REUTERS/Valentyn OgirenkoRegister now for FREE unlimited access to Reuters.comNEW YORK, Feb 24 (Reuters) – The California State Teachers’ Retirement System (CalSTRS), the second largest U.S. pension fund, said on Thursday it had investments in Russia and was monitoring potential risks to its portfolio after Russia’s invasion of Ukraine.”CalSTRS will follow any relevant financial sanctions levied by the United States Government,” a spokesperson said in an emailed statement to Reuters.CalSTRS had exposure to nine Russian local sovereign bonds, so-called OFZs, with a market value of nearly $32 million as of June last year, according to its website.Register now for FREE unlimited access to Reuters.comIts holdings of Russian roubles had a market value of about $1.5 million at that time.Earlier this week, before Russia’s invasion, U.S. President Joe Biden had broadened restrictions on trading of Russian government debt and on Thursday he unveiled new sanctions aimed at limiting Russia’s ability to access global financial markets. read more Canada’s second-biggest pension fund, Caisse de depot, said on Thursday it had sold positions in Russia. read more The California Public Employees’ Retirement System (CalPERS), which manages the largest U.S. public pension fund, did not immediately respond to a request for comment on its exposure to Russian assets.Register now for FREE unlimited access to Reuters.comReporting by Davide Barbuscia Editing by Chris Reese and Diane CraftOur Standards: The Thomson Reuters Trust Principles.