SSIF Broker to launch €100 mln investment fund

“This April, we are to discuss the creation of an investment management company and later we are to establish several funds. The first on our list is a closed fund, in which we plan to invest some €50-100 million, to be listed later on the Bucharest Stock Exchange (BVB), said the brokerage company’s President, Petru Prunea.

He added the documents for the investment funds were not filed with the National Securities Commission (CNVM), because they must be approved by the company’s shareholders. “We estimate that in six months, at the latest, Broker Cluj will have its first investment fund,” according to Prunea.

This is the only brokerage company listed on BVB. It plans to increase its share capital by €11 mln, up to some €40 mln. The company’s market capitalization currently amounts to €112 mln, as its shares have plunged 23 percent since the beginning of the year.