SBRCY - Blue Tower Asset Management Q2 '18 Commentary Long Sberbank
Blue Tower Asset Management commentary for the second quarter ended June 30, 2018.
The Global Value strategy composite returned -0.92% gross (-1.22% net) for Q2. Significant losses in our Japanese and European equities were partially offset by a gain in our holding in Enova International (ENVA). These losses were a combination of decreases in share prices as well as the strengthening of the dollar against the Japanese Yen, Euro, and Russian Ruble.
In this letter, we will provide updates on our views of Sberbank (SBRCY) and the pending acquisitions of Express Scripts (ESRX) and Aetna