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Mark Mobius raises investments in Russia six times in April-June

September 05, 2014, 13:01 UTC+3 MOSCOW
The fund purchased shares of gas giant Gazprom and internet companies Yandex and Mail.Ru Group
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MOSCOW, September 05./ITAR-TASS/. Templeton Developing Markets Trust fund, run by Mark Mobius, increased its investments in Russian shares to $147 million from $24.7 million in April-June, as seen by ITAR-TASS in the fund’s materials Friday.

The fund purchased shares of gas giant Gazprom and internet companies Yandex and Mail.Ru Group worth $19.6 million, $52 million and $10.5 million respectively and also purchased a minor stake in retailer O’Key as of June 30.

The fund also increased its investments in oil company Lukoil to $18 million from $16 million and in metals giant Norilsk Nickel to $46.8 million from $3 million in the period.

But, according to the fund’s materials, it sold its $4.6 million stake in uncut diamond mining giant ALROSA.

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