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Danske Invest excludes Russian government bonds and Russian state-owned companies from funds

As a result of the Russian invasion of Ukraine, Russian government bonds and Russian state-owned companies will be excluded from Danske Invest funds.

Since Russia invaded Ukraine on February 24, the international community has continuously increased the pressure on Russia with sanctions playing an important role. The Russian invasion is not compatible with Danske Invest's policy for responsible investments and as we are part of the global financial system, we also have a key role in ensuring that the sanctions imposed on Russia are implemented in a timely and appropriate manner.

"As of today, we have added all Russian government bonds and Russian state-owned companies to our exclusion list in accordance with our responsible investment policy. In the coming period, we will divest these investments from our funds to the extent possible in relation to our obligations and to our ability to trade in the market,” says Robert Mikkelstrup, CEO of Danske Invest Management A/S.

The implementation of the new exclusions will be carried out in a manner and at a pace that is in accordance with Danske Invest's fiduciary duty to act in the investors' best interests and in accordance with the investment mandate that Danske Invest has.

What does this mean to you as an investor?
The exclusions primarily affect the equity funds Danske Invest Russia and Danske Invest Eastern Europe, where Russian investments are a significant part of the funds. Both funds were suspended on Monday 28 February, due to the closing of the Russian stock market.

In other affected funds, Russian investments account for only a small part.

We are following the situation closely and will inform you as the situation evolves.

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