OAO Yukos Oil Co. investors with a combined $3 trillion under management, including Deka Investment GmbH and Janus Capital Group Inc., urged President Vladimir Putin to end the ``fear and uncertainty'' about Russia's investment climate
Published:
6 July 2004 y., Tuesday
OAO Yukos Oil Co. investors with a combined $3 trillion under management, including Deka Investment GmbH and Janus Capital Group Inc., urged President Vladimir Putin to end the ``fear and uncertainty'' about Russia's investment climate caused by the state's investigations into the oil producer.
Russia's RTS index is down 28 percent since April 12, slashing its value by $55 billion, after Yukos's assets were frozen over a tax case and its biggest owner Mikhail Khodorkovsky faced trial on tax and fraud charges that he denies. The RTS was the third-worst performer in the second quarter among 60 indexes Bloomberg tracks.
``A climate of fear and uncertainty has descended upon the market regarding the state's ultimate intentions toward Yukos,'' the funds wrote in the letter. ``We believe there is an urgent need to meet with representatives of the Russian government and/or the presidential administration.''
Deka, Germany's second-biggest mutual fund company, Janus, the ninth-largest U.S. stock and bond mutual fund manager, and 10 other investment funds wrote to Putin on Wednesday warning that investor confidence in Russia is suffering from the Yukos conflict. The funds hold about 5 percent of Yukos between them.
Putin hasn't commented on how Yukos's tax debts can be resolved, after he said June 17 he opposes bankrupting the company.
Šaltinis:
Bloomberg
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