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US fund TRowe Price doubles stake in Russia’s Yandex

May 28, 2014, 15:54 UTC+3 MOSCOW
T.Rowe Price, one of the US largest funds, manages assets worth $521 billion
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© ITAR-TASS/Dmitry Rogulin

MOSCOW, May 28./ITAR-TASS/. US investment fund T.Rowe Price boosted its stake in Russian Internet giant Yandex to 716,000 shares as of March 31 from 368,700 shares held as of the end of 2013, according to the fund’s report seen by PRIME on Wednesday.

The fund’s stake of 368,700 shares cost US $15.9 million as of the end of 2013.

T.Rowe Price, one of the US largest funds, manages assets worth $521 billion.

Yandex owns Russia’s most popular internet search engine and the internet portal. The company is owned by its CEO Arkady Volozh, investment company Baring Vostok Capital Partners, and others. Yandex’ capitalization amounts to $8.66 billion on the NASDAQ exchange.

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