The company was one of the top investors in the SIFs, along with East Capital and Julius Baer investment funds.
Last year, many foreign funds lowered their participation in companies listed on BVB, because of the financial crisis. Another major investor, Fidelity Investments, one of the top American asset managers, sold much of the stock it owned in Romania’s largest company, oil giant Petrom, and the SIFs by September 2008.
However, other funds took advantage of low stock prices on BVB to make acquisitions. German investment funds managed by Deka International now own more than one percent in three of the five SIFs.
The financial investment companies lost some 80 percent of capitalization last year. This January alone, their value dropped by 22.64 percent.
