Daily Management Review

UAE Sovereign Fund suspends investments in Russia because of Ukraine


The UAE sovereign fund Mubadala has decided to suspend all investment in Russia, Reuters reported.

UAE sovereign fund Mubadala, the second largest sovereign fund of Abu Dhabi, will suspend all investments in Russia, Reuters reported, citing the general director of the fund Khaldoon Al Mubarak. Its headquarters is located in the United Arab Emirates, Abu Dhabi.

The head of the fund described what is happening in Ukraine as events "with catastrophic consequences," including in terms of the impact on the economy worldwide. "Obviously, under these conditions, we have to suspend investments in this market, in Russia," al-Mubarak said at a conference in Dubai.

He also stressed that world events have not changed the fund's desire to be a global investor, and added that the fund aims for sustainable returns over the long term. The fund has $243 billion in assets.

source: reuters.com