BlackRock's global allocation fund booked profits on U.S.-based energy shares in June as oil prices rose more than 25% in the second quarter of 2016, as part of an 85% rebound since hitting 12-year lows in early 2016 tied to fears about oversupply.
"During the month of June, we took profits in U.S.-based energy stocks as higher oil prices have led to higher valuations for many of these companies," Russ Koesterich, head of asset allocation for the BlackRock fund, said in a statement.
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