11 March 2022
In light of the Russian invasion of Ukraine, Quilter Investors, the multi-asset investment arm of Quilter, has taken the decision to prevent new investments in any company listed or located in Russia or Belarus in its range of sub-advised funds.
The funds are run by a select group of high-quality asset managers appointed by Quilter Investors to offer a broad range of strategies across different asset classes, sectors and geographies.
As a result of the humanitarian crisis unfolding in Ukraine and to help protect client investments through a period of uncertainty, Quilter last week took the decision to prevent any increase of existing holdings in any company that is listed or located in Russia or Belarus. That includes any security issued by a company, bank, public entity or government located in both countries, as well as entering into new exposures. Directly held securities, such as equities and bonds, and any exposure held indirectly, for example via American Depositary Receipts and derivatives, are included in the directive.
Quilter Investors continues to engage with the managers where there are existing exposures, which are minimal, about how they plan on handling these.
The funds have traditionally been used in Quilter’s WealthSelect managed portfolio service run by Stuart Clark, as well as other Quilter Investor funds.
Stuart Clark, portfolio manager at Quilter Investors, said: “Historically we have given our managers the autonomy to invest as they wish, provided they stick to the investment objective and policy and follow the philosophy and process that they were originally selected for. However, given the seriousness of the situation, we have a responsibility to act as stewards of our client’s capital and as such we have taken the decision to implement a ban on the purchasing of Russian and Belarusian bonds or equities. There is no circumstance or valuation case for these securities to be part of a portfolio.
“Clearly the humanitarian crisis and the fate of the Ukrainian people is what matters most at this stage, but it is important our assets do not help contribute further to the barbaric acts that are being committed. We will keep a close eye on the situation and continue to engage with our managers to ensure client money is invested in a way that is responsible.”
