SYDNEY, Feb 28 — Australia’s A$204 billion (RM616.2 billion) sovereign wealth fund plans to wind down its exposure to Russian-listed companies, a spokesperson told Reuters on Monday, joining a global financial backlash following Russia’s invasion of Ukraine.

The Future Fund, which has investments spread across global equities, debt, currency and infrastructure markets, said it had about 0.1 per cent of its holdings, worth about A$200 million (US$144 million), in companies listed on the Russian Stock Exchange.

"We will be winding down the remaining exposure (which is not currently subject to divestment sanctions) as market conditions permit,” the spokesperson said in an email.

The fund had no holdings in Russian sovereign debt or other fixed income, and had devoted significant resources to compliance with all sanctions imposed by Australia, the United States and the European Union, the spokesperson added.

The move follows a decision by Norway’s US$1.3 trillion sovereign wealth fund to divest its Russian assets, worth about 25 billion Norwegian crowns (US$2.83 billion).  — Reuters