PSP Investments' Statement on Divestment from Russian Holdings

MONTRÉAL, March 3, 2022 /PRNewswire/ - Following Russia's invasion of Ukraine and the ensuing sanctions imposed under the Special Economic Measures Act, in order to respond to the gravity of Russia's violation of the sovereignty and territorial integrity of Ukraine, and grave human rights violations that have resulted, the Public Sector Pension Investment Board (PSP Investments) states that:

PSP Investments does not have material exposure to Russian investments and does not hold any private direct investments in Russia. The exposure that PSP Investments has is mainly through passive index replication activities and external investment manager activities. PSP Investments has taken steps as of late last week to divest of all its Russian investments. All residual positions will be written down to zero and PSP Investments is committed to exiting this market as soon as market conditions permit.

PSP Investments is deeply concerned about the humanitarian impact inflicted by this situation on the people of Ukraine. As part of our PSP Gives Back Program, PSP Investments will support the humanitarian relief efforts in Ukraine by partnering with the International Committee of the Red Cross. PSP Investments has set up a matching donation program and will match employee donations (up to C$2,000 per employee) toward Ukrainian humanitarian relief.   

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investment managers with $204.5 billion of net assets under management as of March 31, 2021. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on Twitter and LinkedIn.

SOURCE PSP Investments

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