Mobius’ Fund sells shares of Sberbank and decreases its share in Alrosa
Edited by Rhod Mackenzie / 2014-05-29 03:57:24
In the first quarter of 2014, the investment fund Templeton Institutional Funds, managed by Mark Mobius, sold the preferred shares of Sberbank and reduced its share in diamond-mining corporation Alrosa by three times.
According to its quarterly accounting, the Fund decreased the package of Alrosa’s shares from 1.3 million securities to 377.7 thousand securities.
Besides, Templeton Institutional Funds reduced investments into Lukoil’s capital 2.5 times – as of end of March the stake of oil company in the fund's portfolio valued at less than $1.4 million as compared with $3.5 million at the end of 2013. Mobius completely left the capital of Sebrbank, sold 321 thousand preferred shares.
