Allianz Global Investors Sold Its Russian Railways Green Bonds

Allianz Global Investors divested its position in Russian Railways JSC green bonds before the Trans-Siberian train operator was hit with sanctions following Russia’s invasion of Ukraine.

Its one billion-euro ($1.1 billion) green bond fund previously held a position in the securities, according to regulatory filings as of late last year. Allianz purchased the green bonds but sold three weeks before the invasion, a spokesperson for the firm said Wednesday.

Allianz joins a group of ESG bond funds that managed to sell their holdings while they still could as Russia increasingly looked on a warpath. Mirabaud Asset Management’s global climate bond ...