In addition, Brazil-based energy company Petrobras (PZE, Financial) helped returns, as its stock price rallied as a result of two positive developments: 1) the company released its audited financial statements during the quarter, which was viewed as a positive move to increase visibility into the business; and 2) the company announced steps to sell off some assets to raise capital and cut capital expenditures to help improve its balance sheet.
From Brandes Global Equity Fund second quarter 2015 commentary.
