Update war in Ukraine
We, STIP, are shocked by the continuing and increasing violence associated with the Russian invasion of Ukraine. Our condolences go out to all those affected. We are following the developments closely.
The pension fund ensures that its asset managers comply with imposed sanctions, such as the EU sanctions on territorial integrity, sovereignty and independence of Ukraine. We apply an exclusion policy to investments in companies that are directly involved in the manufacturing, developing, maintenance or trade of weapons, munitions and mines. Exclusion in this situation means that we have not invested in bonds issued by the Russian for a vast period of time.
We base our country exclusion policy on UN and EU sanctions legislation.
We are currently in close consultation with our asset managers who invest for us via investment funds. We are discussing how we can dispose of the shares and investments in Russian companies (0.24% of the total portfolio).
The developments surrounding the war in Ukraine follow each other in rapid succession. We share new information here as and when there is reason to do so.