Investment fund Templeton Russia and East European Fund, which specializes in investments in Russian and East European companies bought a small equity stake in VTB in Q207. As of June 30, 2007 Templeton owned 335,500 GDRs on VTB shares with an aggregate market value of $3.7 mln, Templeton said in a statement.
During the reporting quarter Templeton also acquired the status of a shareholder at titanium manufacturer VSMPO-Avisma, having purchased 6,600 shares of the corporation which are worth $2 mln.
The largest investments in Templeton Russia and East European Funds portfolio are equity stakes in UES, Lukoil, Sberbank, Gazprom, Severstal, Norilsk Nickel, VolgaTelecom and Siberia Telecom. In Q207, the funds net assets dropped from $368.8 mln in Q107 to $349.5 mln.
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[Source: Russian Stock Market Blog]
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