Aker ASA (OSL:AKER, Financial) was featured in the AVI Global Trust 2023 Q1 fund letter as a detractor, with shares declining by 9% due to concerns about the global economy and oil price volatility. The collapse of Silicon Valley Bank and subsequent market uncertainty contributed to a challenging environment for oil-related equities. However, Aker's strategic investments and production growth plans position it to benefit from potential oil price recovery.
"Aker detracted -77bps from returns in March. Both the shares and the NAV declined -9% in local currency terms, with the discount unchanged at 17%." — AVI Global Trust, Q1 2023 Fund Letter
Read full letter at gurufocus AVI Global Trust 2023 Q1 page.
