Oppenheimer Funds got rid of all shares of "Yandex"

Today it became known that the family of American funds Oppenheimer Funds got rid of the latest shares of the company "Yandex". This information is confirmed by the fund data on the website of the US Securities and Exchange Commission (SEC). The statements were filed on December 31, indicating that the fund sold Yandex shares back at the end of last year.

Back in 2014, Oppenheimer Funds remained the largest shareholder of Yandex and owned approximately 13.9% of the company's shares, but in the first quarter of 2015 its share fell to 6.9%. The estimated value of the package of 3.8% as of August 31 was $ 197.7, and currently, due to the fall in the value of the company's shares by 20%, its market price would have already reached $ 158 million.
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The first information about the acquisition of “Yandex” shares by the Oppenheimer Funds appeared in 2012 and was subsequently confirmed , but even before that large international funds had bought up the company's shares. The only feature of such transactions was the reluctance to acquire more than 5% of the shares - the threshold after which the fund is obliged to disclose information about the ownership of assets in the reports for the SEC. According to estimates by Oppenheimer Funds, “Yandex” shows growth, but the difficult macroeconomic situation in the market limits the opportunity for growth. At the same time, the fund has put the Russian market at the same level as South Korea and India in terms of stability and speed of development. The latter are likewise recognized by countries with the most "unhealthy" economies.

In recent years, other funds have reduced their share in the Russian market. Thus, Tiger Global Mangement came out of Yandex’s capital in May 2013, Baring Vostok sold most of its shares in 2014, and the New World Fund disposed of a 40% stake for $ 24 million at the beginning of July last year. Partly, it was the refusal of large funds from the assets of Yandex that affected the value of the company's shares, which was the result of the deteriorating situation in the Russian IT market.