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Schroders value fund sticks to oil and gas assets -- for now

Oil and gas will not be mothballed in the immediate future, which is why British asset manager plans to hold on to those assets.

Photo: /Ritzau Finans/AP/Jacob Ford

Schroders European value fund states that it plans to keep its assets in oil and gas, and therefore investing in Russian oil company Lukoil or Romanian gas company Romgaz is not a problem, says portfolio manager Andrew Lyddon to Danish financial news service, Borsen.

"We don't see it as a risk that the world stops using oil and gas in near future. Our key mandate in the fund is to yield a return to our customers based on valuation – we don't have the mandate to consider ESG," says Lyddon.

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