The Kentucky Teachers’ Retirement System is saying that claims about it being the second-largest shareholder in the Russian Sberbank are completely false.
The system’s general counsel says the TRS sold off its direct investments on February 23rd. It lost three-point-two million dollars of the original 15-point-6-million-dollar investment.
In a statement on the TRS website, the system’s remaining exposure to holdings in Russia is-quote “proportionately negligible in a portfolio of about 26-billion dollars.”
Kentucky’s Treasurer said in a statement that she is “strongly urging divestment from all Russian holdings.”
The statement follows US and European sanctions of Russia after its invasion of Ukraine.
