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Treasurers in Missouri, Kansas, call for Russian disinvestment

Scattered Cash Money
Posted at 12:28 PM, Mar 01, 2022
and last updated 2022-03-01 13:28:59-05

KANSAS CITY, Mo. — Russia’s ongoing attack of Ukraine has led the treasurers in Kansas and Missouri to call for certain disinvestments in Russian assets.

On Tuesday, Missouri Treasurer Scott Fitzpatrick requested an emergency meeting of the Missouri State Employee Retirement System to discuss divesting Russian holdings from the system.

Across the state line, Kansas Treasurer Lynn Rogers made a similar call to the nine-member board overseeing the Kansas Public Employee Retirement System.

Fitzpatrick’s office estimates MOSERS has roughly $13 million worth of Russian Securities as part of a $1 billion investment in a Global Emerging Markets fund.

“Vladimir Putin is a madman and it’s time for the world to cut him off. In Missouri, that starts with MOSERS. When he is isolated and alone, Ukrainians and Russians will have their countries back,” Fitzpatrick said in a release “Missouri stands with the Ukrainian people.”

A spokesperson for KPERS says the system has roughly $40 million in Russian securities. The figure represents less than 0.14 percent of the system’s overall value.

“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,” Rogers said in a statement to KSHB 41 News. “I’m in full support of the financial sanctions placed against Russia – the aggressor in this escalating war.”