Nordea Asset Management suspends Brazilian government bond purchases due to Amazon fires

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Nordea Asset Management suspends Brazilian government bond purchases due to Amazon fires
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The asset management arm of Nordea , one of the Nordics' biggest banks, sai...

), one of the Nordics’ biggest banks, said it is suspending purchases of Brazilian government bonds, the latest Nordic investor to take action in response to the outbreak of Amazon forest fires.

Nordea Asset Management said its current exposure to Brazilian sovereign bonds was approximately 100 million euros . “We are taking action by temporarily quarantining Brazilian government bonds both denominated in USD and BRL, meaning no additional purchases and only potential selling action,” Thede Ruest, head of Nordea emerging markets debt, told Reuters.

Helsinki-based Nordea Asset Management had 205 billion euros in total assets under management as of the end of 2018.

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