Australia's AU$204 billion ($147 billion) sovereign wealth fund will wind down its exposure to the companies listed on the Russian stock exchange, joining a global financial backlash following Russia's invasion of Ukraine.

"We will be winding down the remaining exposure (which is not currently subject to divestment sanctions) as market conditions permit," a spokesperson told Reuters in an e-mail.

The Future Fund, which has investments spread across global equities, debt, currency and infrastructure markets, said it had about 0.1% of its holdings, worth about AU$200 million ($144 million), in companies listed on the Russian Stock Exchange.

The fund had no holdings in Russian sovereign debt or other fixed income, and had devoted significant resources to compliance with all sanctions imposed by Australia, the United States and the European Union, the spokesperson added.

The move follows a decision by Norway's $1.3 trillion sovereign wealth fund to divest its Russian assets, worth about 25 billion Norwegian crowns ($2.83 billion).