The Bet-Fi index, following the SIFs' evolution on the Bucharest Stock Exchange (BVB), yesterday dropped 2.46 percent, but perspectives for investment companies are good, because the shares are still under-valuated. "Our recommendation is to 'buy' SIF Banat Crisana (SIF1), SIF Moldova (SIF2), SIF Muntenia (SIF4) and SIF Oltenia (SIF5) shares, and 'hold' on to SIF Transilvania (SIF3) shares," according to analyst Andreea Ciobanu in her evaluation report for the investment companies. Such recommendations are made for about one year, she told Business Standard.
Yesterday's Bet-Fi drop is a natural correction, after several recent record high indexes. Transactions of SIF shares totaled some €6.84 million, bringing their market capitalization to a total of €3.087 billion.
Compared to yesterday's quotations, SIF shares still have potential for growth, from 34 percent for SIF3 to 57 percent for SIF2, according to Intercapital Invest. While the report highlights the opinions of various analysts, the final decision to buy, hold onto or sell shares rests with investors.
The evaluation of SIFs is based on the value of shares they own in several companies not listed on the stock exchange, higher than the one calculated on listed shares only.
