Russian Sovereign Wealth Funds Invest in Fannie Mae, Freddie Mac

Moscow–Two Russian sovereign wealth funds holding a collective $157 billion have invested in government agency bonds, including U.S. home finance companies Fannie Mae and Freddie Mac, the Financial Times reports.Russia’s two sovereign wealth funds also were allowed to invest in the U.K.’s Network Rail MTN Finance, the U.S. Federal Home Loan Banks and Federal Farm…

Moscow–Two Russian sovereign wealth funds holding a collective $157 billion have invested in government agency bonds, including U.S. home finance companies Fannie Mae and Freddie Mac, the Financial Times reports.Russia’s two sovereign wealth funds also were allowed to invest in the U.K.’s Network Rail MTN Finance, the U.S. Federal Home Loan Banks and Federal Farm Credit Banks, Germany’s agriculture finance agency and France’s Dexia Group. It is unclear how much was invested in Fannie Mae or Freddie Mac.The Moscow-based finance ministry has said it does not want to use its oil profits politically and that it only is concerned with making safe investments, which have been limited to 15 percent. Roughly 80 percent will be invested in sovereign debt, according to the Times.