Over 60 percent of Broker Cluj’s financial assets are presently in less liquid shares, but the situation will change in the coming months, said the firm’s managers. “The largest part of the portfolio is blocked with illiquid shares, and in such circumstances the direction for the next six months will be exits, in order to subsequently manage a portfolio focused on liquid shares,” said Silviu Turc, Trading Manager of Broker Cluj.
Turc is part of the team that is responsible for the interim management, since Broker Cluj was forced to effect changes to its management, following the sanctioning of its managers by the National Securities Commission (CNVM), due to irregularities discovered in the company’s activities.
According to Turc, the value of shares owned in RASDAQ and private companies is estimated at RON 45 million, while the value of its total financial shares is RON 70 mln.
