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Russia now ‘utterly uninvestable’ – Schroders CEO says
Russian stocks and bonds are now “in the realms of utterly uninvestable,” the chief executive of Schroders Peter Harrison told Reuters on Thursday, as Western sanctions squeeze Russia’s economy after its invasion of Ukraine. Russia’s Ukraine invasion has roiled markets worldwide, sending oil prices rocketing, boosting commodity stocks and triggering a crash in the Russian rouble and share markets as sanctions bite. The invasion will “fundamentally change the nature of Europe for a very long time to come,” Harrison said, adding that the British money manger’s combined holdings of Russia, Ukraine and Belarus-exposed securities amount to less than 0.1% of Schroders’ total assets.