Treasurers Seal
900 SW JACKSON ST., STE 201
TOPEKA, KS 66612-1235
Lynn W. Rogers
KANSAS STATE TREASURER
PHONE: 785-296-3171
FAX: 785-296-7950

 

For Immediate Release:
March 1, 2022

Contact:
Ashley Motley, Director of Strategic Communications
media@treasurer.ks.gov

Treasurer Rogers Calls for KPERS Divestment from Russian Securities

Topeka, KS – The following statement is attributed to Kansas State Treasurer Lynn Rogers.

“While I am only 1 of 9 trustees for the KPERS board, I am calling on my fellow KPERS trustees to continue to work to divest from Russian entities as soon as possible. I’m in full support of the financial sanctions placed against Russia – the aggressor in this escalating war.

As KPERS reported, less than .14 percent, or $35.9 million, of KPERS investments include Russian securities. I will be working with my fellow trustees to protect the interests of our members and their beneficiaries.

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On February 21, 2022, President Biden issued an executive order Blocking Property of Certain Persons and Prohibiting Certain Transactions with Respect to Continued Russian Efforts to Undermine the Sovereignty and Territorial Integrity of Ukraine. This order and a series of subsequent directives issued by the U.S. Treasury Department’s Office of Foreign Assets Control restrict investments in the Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) regions of Ukraine, certain Russian banks and sovereign debt, and entities that are more than 50% owned by certain Russian elites. Based on a review of our client portfolio holdings in light of these directives, we believe American Century currently complies with all applicable sanctions. In addition, ACI implemented procedures/controls to assist in preventing the inadvertent purchase of a sanctioned entity. We will continue to monitor developments and consider appropriate action if additional sanctions are imposed.

(March 3rd, 2022, Washington, DC) - The leadership of the National Association of State Treasurers has issued the following statement regarding the invasion of Ukraine by Russia. “The National Association of State Treasurers (NAST) condemns Russia’s invasion of Ukraine, a sovereign democratic country. The Russian invasion is a threat to the people of Ukraine, to democratic freedoms, and to global and national economic stability that cannot be tolerated. To the extent that we as Treasurers are able, we are exploring the avenues we have to support the U.S. policy of economic sanctions, and encourage others to do so as well to add to the pressure being placed on the Russian government to achieve peace and stability as quickly as possible.”

For more information about the National Association of State Treasurers, email Catherine Seat, Communications Director at catherine@statetreasurers.org or visit the website here.