Tuesday, May 10, 2016

These are shares Sissener betting – OBI Online

Jan Petter Sisseners Canoups fund gave a return of 1.95 percent in April. At the same time rose OBX Index rose 5.5 percent. Much of the stock market upswing in April was related to oil prices rose more than twenty percent this month.

– The upside in markets is limited by weak earnings growth, especially in the United States. We also see that the pricing is on the high side, with a P / E of 17 for US stocks, said Sissener in the monthly report.

Call fox has taken down equity position in the fund to around 65 percent during the month of April . At the end of March, the share weight around 80 percent.

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– We want to be a bit cautious in earnings season, said he believes earnings picture is uncertain.

Canopus has reduced its exposure in Yara, and is out of Telenor. Sissener however, remains positive to “oil majors” and has retained Statoil, Total, Lukoil and Shell

Read also: – Can not remember it is not competent to lead Telenor

Oil exposure is partly hedged through shorting of certain offshore companies. Hegnar.no was the first news of Sisseners cool on Seadrill shorting. For about a month ago confirmed Sissener that Seadrill, National Oilwell and seismic sector was the fund’s short positions. Without commenting fund holdings says Sissener that Canopus has kept short strategy.

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-Our short exposure has not been successful in April, when the shares have followed oil prices up. But oil companies have delivered weak quarterly and have weak prospects while oil companies not to increase investments, said Sissener.

Read also: – Stay far away from everything called oil

This was the five biggest holdings of Canopus at end-April:
Storebrand
Facebook
Total
Amgen
Lukoil

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