Indiana has cut investment ties with Russia amid its invasion of Ukraine.
The move comes after Gov. Eric Holcomb ordered an examination of the state’s connections to Moscow.
Holcomb’s executive order investigating ties with Russia came at the end of February. Among other actions, the order required the Indiana Public Retirement System to report Russian-related investments.
INPRS says it quickly identified more than $147 million of such investments. And according to an INPRS spokesperson, “given widespread economic and trading restrictions” the state’s retirement system’s managers decided it was prudent to end those investments.
INPRS won’t say how much the divestment cost the state. The agency argues it can’t easily determine the impact because of the falling stock price of those securities, regardless of divestment.
But INPRS says the state’s retirement system is still reporting a positive rate of return this fiscal year. And any loss from severing ties with Russia has been offset by the state’s other investments.
Contact reporter Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.
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