Norwegian investment Fund got rid of the shares of Gazprom, VTB and " Surgutneftegaz "
Norwegian investment Fund Skagen sold the shares of Gazprom, VTB and " Surgutneftegaz ", demonstrate the materials of the investment Fund.
" From our long-term Russian investments we sold shares in VTB Bank and Gazprom, because we believe they are susceptible to sanctions and structural changes due to falling oil prices. In early November on paper had 0, 8% of our portfolio, " - stated in the report Skagen Kon-Tiki is one Of the foundations of the group (under the management of the Fund are assets of 8 billion dollars, respectively, the share of VTB Bank and Gazprom about $ 65 million), pass " Vedomosti ". Materials other Fund - Skagen Global - reflect the sale of shares of OJSC " Surgutneftegas ". At the end of 2013 in securities the company has invested about 1% Of 6, $ 6 billion under management of the Fund (66 million). International oil prices have fallen in recent months, reaching multi-year lows. So, on the first day of the week the price of Brent crude on London exchange ICE fell below 67 dollars per barrel - the lowest level since the autumn of 2009 and, later the same day fell below the psychologically important level of $ 66 per barrel. The fundamental reason for the price fall is an excess of supply over demand. November 27, OPEC decided to keep the quota for oil production at 30 million barrels per day. Then the International oil prices again dropped very rapidly. Relations between Russia and the West deteriorated in connection with the situation in Ukraine. The EU and the US on the background of the progress of the Minsk agreements between Kiev and militias Donbass about stopping the fire entered against Russia penalties against financial, oil and defense industries.
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