The War in the Ukraine: Pension Investments

As the University of Victoria has stated, we are deeply troubled about Russia’s military attacks in Ukraine, the impact on the country’s citizens and international stability, and the impact for university community members.

The Combination Pension Plan, Money Purchase Pension Plan and Staff Pension Plan each have several investment managers. These managers are responsible for different types of assets.

Two of these investment managers – BCI and PH&N – have indicated that a fraction of a percentage of their total assets under management are invested in Russia. The exposure of UVic pension plans to those investments is in itself quite limited. However, we have been assured by these managers that they are now addressing these investments through their internal processes, which are evolving as the situation changes.

We are closely monitoring the situation in the Ukraine and its global impacts. Pension Services, the Pension Board of Trustees and Staff Pension Plan Committees are staying apprised of developments. We continue to work with the investment managers and investment consultants for each plan to monitor and assess the situation.