People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann
March 11, 2022
By Ross Kerber
(Reuters) – BlackRock Inc’s total client exposure to Russia has declined to less than $1 billion from $18 billion a month ago, before Moscow’s invasion of Ukraine led to Western sanctions and the closure of the Russian stock market, according to figures supplied by the asset manager on Friday.
A spokesman for the New York asset manager said via e-mail that the impact on clients would “depend on their initial asset allocation and the timing of their allocations to or away from this market during the period”.
Morningstar data through Feb. 25 had shown BlackRock had around $5 billion in exposure to Russia, among many large U.S. asset managers with investments there.
BlackRock last week said it had suspended…
