#AceFinanceNews – UNITED STATES – April 21 – US fund managers have warned of risks shareholders could face from current or future Western sanctions against Russia, as Washington move to impose more sanctions on Moscow over their dispute on Ukraine.
Since April 4, securities filings have outlined potential problems for funds including the $124.6 million ING Russia Fund, the $841.1 million SSgA Emerging Markets Fund and a number of iShares exchange-traded funds offered by BlackRock Inc.
The filing for the SSgA fund noted that sanctions by the US or the European Union could result in the depreciation of the Russian currency, Reuters reported Friday.
According to the report, US securities regulators contacted fund firms with holdings in Russia last month to make sure they were properly managing risk and disclosing the assets to investors.
US has however promised that if the situation does not get sorted in the Ukraine, they will consider further sanctions on funding and other financial institutions.