Oil industry faces short-term hurricane impact
While it’s too early to know the full economic and human toll of Hurricane Harvey, we expect a relatively short-term impact on the U.S. energy industry.
The opinions expressed are those of the Fund’s managers and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through June 30, 2017, are subject to change at any time based on market and other current conditions, and no forecasts can be guaranteed. This commentary is being provided as a general source of information and is not intended as a recommendation to purchase, sell, or hold any specific security or to engage in any investment strategy. Investment decisions should always be made based on an investor’s specific objectives, financial needs, risk tolerance and time horizon. Past performance is not a guarantee of future results.
Top 10 Equity Holdings as a percent of net assets as of 06/30/2017: Halliburton Co., 4.74%, U.S. Silica Holdings, Inc., 4.51%; Schlumberger Ltd., 4.49%; EOG Resources, Inc., 4.39%; Parsley Energy, Inc., 4.05%; RPC, Inc., 4.01%; Pioneer Natural Resources Co., 3.87%; Continental Resources, Inc., 3.78%; Baker Hughes, Inc., 3.71%; Concho Resources, Inc., 3.22%.
Risk factors: Top 10 Equity Holdings as a percent of net assets as of 06/30/2017: Halliburton Co., 4.74%, U.S. Silica Holdings, Inc., 4.51%; Schlumberger Ltd., 4.49%; EOG Resources, Inc., 4.39%; Parsley Energy, Inc., 4.05%; RPC, Inc., 4.01%; Pioneer Natural Resources Co., 3.87%; Continental Resources, Inc., 3.78%; Baker Hughes, Inc., 3.71%; Concho Resources, Inc., 3.22%.
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