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U.S.-based New World Fund acquires 0.4% of ALROSA shares

14 january 2014

Several American investment funds recently disclosed their shareholdings in ALROSA secured following the IPO of the Russian diamond company conducted in October 2013, Interfax reports.
According to reports filed by the funds and released at the website of Securities and Exchange Commission (SEC), as of 31 October, 2013, New World Fund affiliated with American Funds operated by Capital Group possesses the largest share in the diamond miner. New World Fund owns 0.4% of ALROSA’s share capital, acquired in two iterations of 0.37% followed by the other 0.03%. Prices per unit of ALROSA differ in the above transactions and it may be revealed that the lesser share was acquired by New World Fund after IPO. Following the results of the previous quarter New World Fund did not possess any share in ALROSA. Harding Loevner Funds control 0.19% of ALROSA’s shares, Transamerica Developing Markets Equity owns 0.03%, and Oppenheimer Global Allocation Fund owns 0.02% shares.
Goldman Sachs being one of the organizers of ALROSA’s IPO also acted as a buyer of its shares: funds Goldman Sachs BRIC Fund and Goldman Sachs Emerging Markets Equity Funds possess 0.04% share in the diamond company.
Previously no details were provided concerning the list of American funds invested to ALROSA and their relevant shareholdings. Organizers had announced participation of Lazard and Oppenheimer funds in the IPO which purchased large shares (it shall be noted that share belonging to Oppenheimer Global Allocation Fund disclosed to SEC might differ from the total shareholding of Oppenheimer funds).
Lazard funds, including Lazard Emerging Markets Equity Portfolio, holding Russian stock worth about $2 billion as of 30 September, 2013, has not filed its report yet.
American funds formed 60% of bid book of ALROSA’s shares. Due to the fact that majority of applications were submitted by long-term investors, in order to avoid possible liquidity problems organizers reserved certain share for hedge funds which will support free float volume.