Germany's asset management firm DWS suspends investments in Russian securities

In midst of Russian aggression in Ukraine, a German asset manment firm, DWS Group has decided to suspend its investments in Russian security. In its financial results report for first quarter of 2022, corporation declared that until furr tice y have decided that funds mand by DWS will longer invest in Russian securities, as per reports of Pravda. firm also stated that in light of current extremely tense geopolitical situation in Ukraine, which has resulted in a high level of uncertainty and insecurity in markets, as well as a sharp rise in inflation, y have re-intensified ir contacts and dialogue with ir customers to help m with ir assessment and expertise.

corporation also anunced that it has donated 250,000 euros to humanitarian relief to help reduce effects of conflict in Ukraine, which has resulted in a huge number of Ukrainian people moving out of country. Furrmore, Group stated that its employees at various locations conducted relief efforts and contributed donations for Ukrainians affected by current crisis.

DWS Group concerned about situation

Last week, David Bianco, who is chief investment officer for Americas at DWS Group said that Russia attacking Ukraine should be ir major fear as inflation is at a four-decade high due to war. He furr said that y are concerned about all of se dangers caused by war. He went on to say that y prioritize ir concerns in this order, firstly y are concerned about intensifying war, second, European recession, third, n-commodity w-spiral inflation, and fourth excessive valuation, according to Insider.

DWS is keeping an eye on conflict

firm claimed that DWS is keeping an eye on conflict as it has potential to escalate even more, which will result in ar spike in oil prices and ultimately, a recession. Following Russia's invasion of Ukraine in late February, Brent crude and West Texas Intermediate petroleum prices soared to levels t seen since 2008, according to Insider. Gas prices in United States immediately rose to near-record highs of more than $4 per gallon as a result of rise.

Im: @DWS_Group/Twitter/ AP