Russia seeks to halt investor stampede as sanctions hammer economy

  • Man and abrdn cut Russia positions
  • Liontrust suspends dealing in Russia fund
  • Austria’s RBI looks at leaving Russia – sources
  • Visa, Mastercard block many in Russia
  • German watchdog keeps close eye on VTB’s Europe arm

LONDON, March 1 (Reuters) – Russia said on Tuesday it was placing temporary curbs on foreigners seeking to exit Russian assets, putting the brakes on an accelerating investor exodus driven by crippling Western sanctions imposed over the invasion of Ukraine.

Russian assets went into freefall on Tuesday with London-listed ishares MSCI Russia ETF (CSRU.L) plunging 50% to hit a fresh record low and Russia’s biggest lender, Sberbank slumping 21% as investors raced for the exit.

Major money managers, including hedge fund Man Group (EMG.L) and British asset manager abrdn (ABDN.L), have been cutting their positions in Russia even as the rouble slumped to a record low and trading froze on its bonds.

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