Bloomberg – Petroleo Brasileiro SA, Brazil’s state-controlled oil company, and Potash Corp. of Saskatchewan Inc., the world’s largest producer of the crop nutrient, were added to Goldman Sachs Group Inc.’s list of the most popular stocks among hedge fund managers.
The addition of the companies to the so-called VIP list, which includes the 50 stocks that are the most common holdings in hedge fund portfolios, is a sign of “strong interest in non- U.S. markets by U.S.-based hedge funds,” strategist David Kostin wrote in note to clients.
The VIP has outperformed the Standard & Poor’s 500 Index during the past 12 months, falling 6 percent as the S&P 500 lost 9.2 percent. It is the first time Petrobras, as the Brazil company is known, or Potash Corp. appeared in the index.
Petrobras’ American depositary receipts rose to an all-time high in May, spurred by record oil prices and investor interest in the offshore Tupi oil field, which the company said in November may hold 8 billion barrels of crude.
