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Hostplus is committed to divest its remaining direct investments in Russia.

Statement attributable to Chief Executive Officer, David Elia.

The unfolding conflict in the Ukraine is deeply concerning and our thoughts are with those affected by this distressing situation.  Under these circumstances, Hostplus is committed to fully divest our remaining direct holdings in Russia.

Many of our managers significantly reduced their direct holdings in the lead up and since the commencement of the crisis.

At present Hostplus has a limited exposure in Russia which represents a very small proportion of total investments we hold. We currently have direct holdings of A$10m in a $76Bn portfolio.

This direct holding has reduced from the $19m reported earlier this week and reflective of our ongoing commitment and action to fully divest.

We continue to work with our existing managers across our investment portfolios to achieve this outcome acknowledging that our ability is somewhat hampered by the Russian Central Bank ordering market brokers to reject foreign clients trying to sell Russian securities.

We certainly feel for the Ukrainian people and the terrible situation they’re facing and believe this is the right thing to do.

 

This website is issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657 495 890, MySuper No 68657495890198. Hostplus Self-Managed Invest (SMI) is issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Pooled Superannuation Trust (PST) ABN 13 140 019 340. It contains general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement (PDS) or Hostplus SMI PDS before making a decision about Hostplus. For a description of the target market, please read the Target Market Determination (TMD), available at hostplus.com.au. You can view detailed disclaimers here. Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514 to facilitate the provision of personal financial advice to members of Hostplus. Advice is provided by financial planners who are Authorised Representatives of IFS. Fees may apply for Comprehensive Financial Advice, further information about the cost of comprehensive advice is set out in the relevant IFS Financial Services Guide, a copy of which is available from your financial planner. Hostplus has engaged Link Advice Pty Ltd ABN 36 105 811 836, ASFL 258145 to facilitate the provision of limited personal financial advice to members of Hostplus via the web-based product Super Adviser.