Compared to the end of the second half of last year, SIF net assets increased by RON 2,247 million (€709.3 million), a 29 percent (31 percent in euro) rise. "The main contributor to this growth was an increase in stock exchange quotations of SIF portfolio companies," said Teodor Buzatu, member of SIF Oltenia's (SIF5) Board of Directors.
The RAQ C index increase for all titles on the Rasdaq market was more than double (116.6 percent), although titles on this market are less liquid. SIF Oltenia does not fear possible corrections once foreign
speculators withdraw. "Most of them came in the last two months, bought at higher prices, and will wait for a further price increase. On the other hand, in spite of delays, domestic private pension funds will make their presence known, compensating for the possible withdrawal of foreigners from the market," explained Buzatu.
SIFs gained approximately RON 148 million (some €44 million) from important share packages they sold in the first half of 2007. Most of the profits came from cashing in 2006 BCR and BRD dividends, for some €50 million.
