Russia update

In response to the Russian / Ukraine crisis, Funds SA has been actively engaged with its external investment managers regarding exposure to Russian securities, and has been implementing sanctions imposed by the Australian Government.

Some divestment has already been achieved, and the original exposure to Russia of $60 million has been reduced to $9 million, or 0.02% of the investment portfolio.

We will continue to seek divestment across the portfolio from our investment managers, but note that trading restrictions in key markets make this difficult at the current time.