March 3, 2022
Treasurer Allison Ball Urges Commonwealth’s Divestment from Russian Investments
I stand with Ukraine, a sovereign democratic country, and commend the courageous fight for freedom we have witnessed from the Ukrainian people. Russia’s assault on Ukraine is a threat to the free world and global economic stability, and I am committed to supporting the U.S. policy of sanctions against Russia.
As Chair of the State Investment Commission, I have reviewed the Commonwealth’s investment pools and we do not currently have any Russian holdings.
I also serve as a trustee of the Teachers’ Retirement System board and am aware that TRS does not currently hold any direct holdings in Russian companies but maintains a foreign investment portfolio that includes minor Russian investments. The Kentucky Employees Retirement System and County Employees Retirement System have direct and indirect Russian investments.
I strongly urge divestment from all current Russian holdings. Outside fund managers who maintain indirect holdings of pension funds should proceed with divestment from Russia. Any individual holdings of pension funds should also be divested through best efforts as soon as possible.
The world has been inspired by Ukraine’s heroic fight for freedom, and Kentucky is committed to doing its part to support U.S. sanctions against Russia to stand alongside the sovereign nation of Ukraine.