Nordea Asset Management says to exit all Russian investments

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  • Aims to exit country exposure across all asset classes
  • Includes govt. debt, stocks, corporate bonds, alternatives
  • Decision follows Russian invasion of Ukraine

LONDON, March 1 (Reuters) - Nordea Asset Management said on Tuesday it had decided to sell down all its Russian investments in response to the country's invasion of Ukraine, including in government bonds, equities, corporate debt and alternatives.

The move comes as investors are rushing to reduce exposure to Russia, which is facing economic turmoil amid ever-tougher sanctions aimed at forcing Russian President Vladimir Putin to call off the invasion. Russia calls its actions in Ukraine a "special operation".

While Russia has moved to block foreign investors from selling securities to staunch the outflow of capital, NAM said it planned to continue exiting over time, no matter how long it took. read more

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"NAM has been in the process of reducing its exposure to Russia for some time and will in line with the exclusion decision continue to do so further to the extent possible," it said in a statement.

NAM manages around 292 billion euros ($325.35 billion) in assets across a range of strategies through four investment centres in Bergen, Copenhagen, Helsinki and Stockholm.

($1 = 0.8975 euros)

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Editing by Carolyn Cohn and Tommy Wilkes

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