Courtiers Wealth Management
Courtiers Wealth Management

News & Insights

CIO Talk: Ukraine Crisis and Impact


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The sharp fall in the FTSE 100, which is down around 3.7% and declining stock markets around the world are the inevitable consequences of uncertainty caused by Russia’s invasion of Ukraine.

Following reports that Russian forces have launched a full-scale attack on its European neighbour, in this CIO Talk Gary says “it’s inevitable that when you get a major geopolitical event like this, stocks around the world are going to give up some ground because there is so much uncertainty for everybody.”

“The one thing the market hates more than anything else is uncertainty and that’s certainly the case here.”

Although the invasion of Ukraine happened suddenly when it came, Gary said the situation “had been brewing for a while” and that Courtiers had been planning for just such an eventuality.

The independent internal Compliance Team at Courtiers, following guidance received from its Depositary and Fiduciary Trustee (Citibank UK Limited) have been working behind the scenes for the past two or three weeks. “They look at everything we do and have obviously been interested in our exposure and what risks are in the portfolio in the event of conflict breaking out in Ukraine.”

In the event, fund exposure to Russia and any associated risk has been “pretty low” with no direct holdings in Russia. Although Courtiers holds one stock, Polymetal, which gets about 40% of its revenue from Russia, this a relatively small holding.

Gary expressed his sadness for the pain that the Ukrainian people are going through and for the inevitable loss of life. What he and the Investment Team face, or have faced, is nothing in comparison.

Important information

Issued by Courtiers Asset Management Limited, CAM0222535. Courtiers Asset Management Limited is authorised and regulated by the Financial Conduct Authority – Register No: 616322. Address: 18 Hart Street, Henley on Thames, Oxfordshire RG9 2AU. Tel: 01491 578368

Past performance is not a reliable indicator of future returns. The value of investments, and the income from them, can go down as well as up and is not guaranteed and you may not get back the amount originally invested. Any forecast, projection or target where provided is indicate only and is not guaranteed in any way. Certain types of funds might carry a greater investment risk than other investment funds. Further details of the risks are associated with investing in Courtiers funds can be found in the Key Investor Information Document or Prospectus, copies of which are available on request or at


This communication is for information purposes only and should not be relied upon in making an investment decision. The views expressed by individuals and the business are based on market conditions at the date of issue and are subject to change without notice. The mention of any stocks or shares should not be taken as recommendation to deal and does not take into account the individual investor’s investment objective or risk profile. Where an investment or security is denominated in a different currency to the investor’s currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor. Any third party sites, or pages which are linked to the document, have not been reviewed by us and therefore we accept no responsibility for the authors or content of external link or pages. If you are interested in any of Courtiers Asset Management Limited’s range of funds, or require any financial advice, please speak to a financial adviser.

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