Reaction of Pensioenfonds PGB to the Russian invasion of Ukraine

Pensioenfonds PGB is shocked by Russia’s devastating invasion of Ukraine and sympathises with all those affected by this. The Board discussed the worrying situation in Ukraine and our Russian investments several times during the past period.
14 March 2022

No Russian government bonds, low investment level
Pensioenfonds PGB does not invest in Russian government bonds. Partly as a result of our SRI policy, which includes a focus on environmental pollution, climate change and corruption, our equity positions in Russia were already small. Our Russian investments currently amount to 0.13% of our invested assets. Tightened sanctions and the closure of the Moscow stock exchange make the tradability of these investments very limited. We are now examining whether and how we can responsibly wind down our Russian investments as soon as the markets allow. In doing so, we will keep a close eye on the impact of these investments on our participants.

We will continue to monitor the situation closely
As Board, we will keep a close eye on the developments. We closely monitor the impact of the uncertainty on the financial markets on our investments. At the moment, we still see sufficient room to implement our investment policy in the interest of all our participants.