The value of the portfolio of the three Julius Baer funds dropped more than seven times since October 2007, and is now worth less than $100 mln, down from $520 mln in October 2007.
Julius Baer is the largest foreign investor on BVB, followed by Hyposwiss, and the Dutch ING group, according to Business Standard calculations.
The Artio Global funds, the U.S. investment administrator controlled by the Swiss Julius Baer bank, had investments worth $71.2 mln on BVB at the end of January, 25 percent less than the exposure they had on the local Stock Exchange year-on-year.
Julius Baer International Equity Fund, which has the highest exposure on Romania, registered losses worth $7 mln on Petrom (oil company) and BRD (lender), the companies with the largest share in its portfolio. The two companies make up 75 percent of the fund’s portfolio
