Oppenheimer invests $1 mln in Gazprom despite US sanctions and gas dispute

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A US investment fund, Oppenheimer Quest for Value, has invested $1 million in Gazprom’s securities despite the ongoing gas dispute between Russia and Ukraine, the Prime news agency reports.

By the end of April 2014, Oppenheimer’s investments in Gazprom amounted to $1 billion (around 139,000 American Depository Receipts), compared to none in December 2013, according to the fund’s financial reports.

In addition to Gazprom’s equities, Oppenheimer Quest for Value owns stocks of six other Russian companies – Magnita, Eurasia Drilling, Novatek, Moscow Exchange, Yandex and Alrosa.

Oppenheimer Quest for Value is a subsidiary of OppenheimerFunds, Inc.

As of last September, OppenheimerFunds managed more than $186 billion in assets.

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