North Carolina State Treasurer Dale Folwell said his investment team has identified nearly $80 million in the state’s pension fund that goes to Russian-based entities but has no plans to divest its holdings.
The sum represents just 0.07% of the more than $118 billion state retirement plan that covers roughly 1 million residents.
Severing ties with the country that has come under heavy scrutiny and faced hefty sanctions for invading Ukraine is not as easy as some in the fund might hope. That’s largely because the $80 million state workers have identified is part of a broader international fund the state has limited influence over.
“Some of the national and international index funds are determining how to extract themselves from these types of investments,” Folwell said.
With Russia pegging the Ruble to gold today, they may not wish to even think about divesting.
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