NEW YORK (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.
Its 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.
Canada’s second-biggest pension fund, Caisse de depot, said on Thursday it had sold positions in Russia.
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.
(Reporting by Davide BarbusciaEditing by Chris Reese and Diane Craft)