Dutch civil service pension fund ABP is selling its remaining investments in Russia in the wake of the invasion of Ukraine.

The fund, one of the biggest in the world, has some €520m invested in Russia – or around 0.1% of its total assets.

ABP said in a statement that it is ‘shocked’ by the Russian invasion and had therefore decided to ditch all its interests there.

ABP had already considerably reduced its investments in Russia over the past few years and has no money in Russian government bonds, which were already on an EU exclusion list.

‘ABP has also sold some of its investments in Russian oil and gas companies in connection with our October decision to sell our investments in fossil fuel producers,’ the fund said.

‘The sale of the remaining investments may take some time as market conditions are complex at the moment.’