8 Sep 2009 12:02

Templeton buys into Russia's Acron, Synergy, GlobalTrans

NEW YORK. Sept 8 (Interfax) - Templeton Russia and East European Fund diversified its Russian portfolio in the second quarter of 2009, buying shares in fertilizer producer Acron , distiller Synergy and privately owned rail company GlobalTrans, the fund said in a financial report.

Templeton bought a 0.87% stake in Synergy with a market value of $2.1 million as of June 30. Templeton Emerging Markets Small Cap Fund also bought shares in Synergy during Q2, so Templeton Asset Management's consolidated stake is approximately 1%.

Templeton Russia and East European Fund bought 0.1% or approximately $1.2 million worth of stock in Acron. Another Templeton fund, Global Investment Trust, used to hold these shares but sold them at the beginning of 2008.

Templeton Russia and Templeton Global Investment Trust bought 0.5% Global Depositary Receipts (GDR) in GlobalTrans.

Templeton's Russia portfolio is still dominated by blue chips like Gazprom , Lukoil , MMC Norilsk Nickel , Mobile TeleSystems (MTS) , Severstal and Sberbank .