tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 1st, 10:39AM

Investments

rss
Investment News

Russia ends globalisation: Blackrock

The Russian invasion of Ukraine has put an end to the globalisation, Blackrock chairman Larry Fink says.

Friday, April 1st 2022, 6:37PM

Over the last three decades the world has seen connectivity between nations, companies and even people strained by two years of the pandemic.

It has left many communities and people feeling isolated and looking inward, he says in a letter to shareholders.

“I believe this has exacerbated the polarization and extremist behaviour we are seeing across society today.”

“The invasion has catalysed nations and governments to come together to sever financial and business ties with Russia. United in their steadfast commitment to support the Ukrainian people, they launched an “economic war” against Russia.

“Governments across the world almost unanimously imposed sanctions, including taking the unprecedented step of barring the Russian central bank from deploying its hard currency reserves.

“Capital markets, financial institutions and companies have gone even further beyond government-imposed sanctions,” he writes.

“Access to capital markets is a privilege, not a right. And following Russia’s invasion, we saw how the private sector quickly terminated longstanding business and investment relationships.”

Since the war started BlackRock “moved quickly” to suspend the purchase of any Russian securities in its active or index portfolios.

He says the actions taken by the private sector to stop doing business in Russia “demonstrate the power of the capital markets.”

“Russia has been essentially cut off from global capital markets, demonstrating the commitment of major companies to operate consistent with core values. This “economic war” shows what we can achieve when companies, supported by their stakeholders, come together in the face of violence and aggression.”

Tags: Blackrock

« Rewarding the value huntersAn active investment managers lockdown tool kit »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend

Good Returns Investment Centre is brought to you by:

Subscribe Now

Keep up to date with the latest investment news
Subscribe to our newsletter today

Edison Investment Research
  • October_terminations_(1).pdf">Termination of coverage - Henderson Eurotrust
    31 October 2024
    Termination of coverage
    Edison Investment Research is terminating coverage on Henderson Eurotrust (HNE). Please note you should no longer rely on any previous research or estimates...
  • Baker Steel Resources Trust
    30 October 2024
    Key takeaways from the Cemos site visit
    We recently visited the Tarfaya cement grinding line of Cemos Group, one of the two largest holdings of Baker Steel Resources Trust (BSRT), which made...
  • Canadian General Investments
    30 October 2024
    Potential for Canadian outperformance
    Canadian General Investments (CGI) is managed by Greg Eckel at Morgan Meighen & Associates (MMA). He believes that investors could be rewarded by an allocation...
© 2024 Edison Investment Research.

View more research papers »

Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com