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LA Treasurer joins other states in divesting Russian investments

State reminds residents of $852 million in unclaimed property
Posted at 6:09 PM, Mar 08, 2022

Louisiana State Treasurer John M. Schroder has joined a number of other State Treasurers across the country in an effort to stop the Russian invasion of Ukraine.

The treasurers are pledging to divest their state-controlled investments in Russian companies.

"I am sickened by the images of the unprovoked Russian invasion of Ukraine," says Louisiana State Treasurer John M. Schroder. "Louisiana Treasury is joining other states in divesting from any Russian investments in an attempt to do our share in forcing an end to this invasion and crippling the Russian government."

According to Schroder, Louisiana Treasury manages one fund that currently owns international stocks with any exposure to Russia.

The Treasury Department says The Louisiana Education Quality Trust Fund (LEQTF) investment is an index fund managed by Vanguard. The index held less than 1% in Russian stocks. The index removed all Russian stocks on March 7, 2020.

See the full statement from the joint treasurers below:

"We, the undersigned State Treasurers, condemn Russia's unprovoked and unjustified invasion of Ukraine. The Russian invasion is a threat to democratic freedoms and global stability and cannot be tolerated. State governments invest a significant amount of public funds with some invested in Russian-domiciled companies. Actions taken by states can help the people of Ukraine by putting additional pressure on the Russian economy to force an end to this invasion. These actions are not only morally imperative, but the current crisis also constitutes a substantial risk for states' investments and our economic security. We cannot continue to invest funds in a way that runs counter to the foreign policy and the national interests of the United States. Moreover, we choose to stand on the side of freedom and security for free and independent democratic countries."

"Therefore, we support efforts at all levels of government and across the public and private sectors, which include cross-functional and multi-agency partnerships, to divest State Treasury and pension funds from investments in Russian-domiciled companies. We are committed to taking steps that include divesting as soon as possible to have the quickest and most meaningful impact on this tragic situation."

Treasurer Kimberly Yee, Arizona
Treasurer Dennis Milligan, Arkansas
Treasurer Fiona Ma, California
Treasurer Dave Young, Colorado
Treasurer Shawn Wooden, Connecticut
Treasurer Colleen Davis, Delaware
Treasurer Julie Ellsworth, Idaho
Treasurer Michael Frerichs, Illinois
Treasurer Michael Fitzgerald, Iowa
Treasurer Lynn Rogers, Kansas
Treasurer Allison Ball, Kentucky
Treasurer John Schroder, Louisiana
Treasurer Henry Beck, Maine
Treasurer Dereck Davis, Maryland
Treasurer Deb Goldberg, Massachusetts
Treasurer Rachael Eubanks, Michigan
Treasurer David McRae, Mississippi
Treasurer Scott Fitzpatrick, Missouri
Treasurer John Murante, Nebraska
Treasurer Zach Conine, Nevada
Treasurer Monica Mezzapelle, New Hampshire
Treasurer Elizabeth Muoio, New Jersey
Treasurer Tim Eichenberg, New Mexico
Treasurer Thomas Beadle, North Dakota
Treasurer Robert Sprague, Ohio
Treasurer Randy McDaniel, Oklahoma
Treasurer Tobias Read, Oregon
Treasurer Stacy Garrity, Pennsylvania
General Treasurer Seth Magaziner, Rhode Island
Treasurer Josh Haeder, South Dakota
Comptroller Glenn Hegar, Texas
Treasurer Marlo Oaks, Utah
Treasurer Mike Pellicciotti, Washington*
Treasurer Sarah Godlewski, Wisconsin
Treasurer Riley Moore, West Virginia
Treasurer Curt Meier, Wyoming
Treasurer Carmen Pigler, District of Columbia
Commissioner of Finance Bosede Bruce, U.S. Virgin Islands

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