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Assets of SIF fall 14% in October

The significant falls in October cut the net assets of the SIFs by 14.7%, according to the periodical reports for the Bucharest Stock Exchange (BVB).

At end-October, the net assets of the 5 SIFs cumulated 7.1bn lei (some 1.94bn euro) versus 8.3bn lei (some 2.23bn euro) one month earlier, in a context in which BVB recorded in October the biggest decline in its history, and the SIFs have most of their portfolios listed on BVB. Thus, the main 25 shares lost last month 40% of their value on average.

The sharpest declines were recorded last month by SIF Moldova (SIF2), with its net assets having diminished 15.1% versus the previous month to slightly over 1bn lei (some 277.8 million euro).

SIF Moldova posted in October the biggest profit out of the three SIFs that made public until Monday the results. Thus, the said SIF's profit stood last month at 4.6 million lei (some 1.27 million euro). In the first 10 months of 2008, SIF Moldova profit stood at 79.2 million lei (some 22 million euro).

The net assets of SIF Oltenia (SIF5) fell in October by 14.6% to 1.6bn lei (some 444.4 million euro).

SIF5 posted first 10-month profit of 1.8 million lei (some 500,000 euro) and 84.3 million lei (some 23.4 million euro).

SIF Muntenia (SIF4) recorded January through October a profit of 115 million lei (some 32 million euro).

The net assets of SIF Muntenia rose 14.3% in October versus the previous month to 1.4bn lei (some 389 million euro), Ziarul Financiar reports.

 

Sursa: http://www.rompress.ro

Tags: million sif euro october assets profit month bvb

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