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Colonial First State confirms divestment of Russian assets

Colonial First State confirms it is working with investment managers to divest Russian debt and equity investments. CFS has also prohibited the purchase of any new investments in Russia.

CFS’s portfolio exposures in Russia currently comprise less than 0.1 per cent of total funds under administration across both debt and equity holdings. The decision to divest Russian assets was made yesterday, after closely monitoring the evolving situation in Ukraine over recent days. The divestment will be completed as quickly as conditions permit, noting that some key markets are currently closed.

CFS will continue to comply with all sanctions imposed on Russia in Australia.

About Colonial First State

Colonial First State (CFS) is Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 and its subsidiaries which include Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) and Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL). CFS is majority owned by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding a significant minority interest.