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Danske Bank holds shares worth some 20 million euros in three SIFs

Danske Bank holds shares worth RON 79.7 million (21.9 million euros) in the SIF Moldova, SIF Transilvania and SIF Oltenia financial investment companies, through four investment funds, which means its ownership in each of the three SIFs is over 1 percent, according to some notes issued on Wednesday by the Bucharest Stock Exchange (BVB).

In 2007, the value of its holdings in the three SIFs stood at 30 million euros. The investment funds managed by Danske Fund Management Company of Luxembourg and Danske Capital Fund Management of Finland, two of the investment management companies owned by Danish Danske Bank, are said to have lost over 8 million euros as a result of the falls in the SIF securities quotes in 2007. Danske Bank on Wednesday reported that the funds managed by it have a 1.85-percent holding in SIF Transilvania, a 1.96-percent holding in SIF Moldova, and a 1.55-percent holding in SIF Oltenia. Despite the strong negative corrections of the past months, Danske says he opted not to drastically reduce its holdings in the SIFs, and only to decrease its holding in SIF Transilvania in 2007, from 2 percent in April 2007, to 1.85 percent in May 2008. The funds managed by Dankse Bank also own shares in the other two SIFs - SIF Banat-Crisana and SIF Muntenia, but their holdings do not exceed 1 percent in each. Sursa: http://www.rompress.ro

Tags: sif danske percent million euros three shares bvb

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