Romania: SIFs, insurers hold 10% of Bancpost active balanced
25. March 2008. | 12:13
Source: Business Standard daily
Financial investment companies and two insurance companies hold some 10 percent of the shares of the Bancpost Active Balanced mutual fund, administered by EFG Eurobank Mutual Funds Romania
Financial investment companies (SIF) and two insurance companies hold some 10 percent of the shares of the Bancpost Active Balanced (BAB) mutual fund, administered by EFG Eurobank Mutual Funds Romania (EFG-EMF), according to the company’s General Manager, Daniel Stifter.
The official did not wish to indicate which of the five SIFs have acquired BAB shares.
On the other hand, 22 percent of BAB’s assets are in SIF shares, with the fund’s portfolio restructured significantly in the past nine months. As of 30 June 2007, the shares of 20 companies had a 21 percent smaller ratio than the SIFs’ current share.
“The management of the fund portfolio is following a long-term stable structure, but allows for various conjunctural movements. It is natural that we should turn our attention to blue-chip type shares, such as SIFs, banking or pharmaceutical,” Stifter told Business Standard.
The fund’s net assets are worth RON 65 million (EUR 17.4 mln). EFG-EMF has a 12.8 percent market share of total net assets of the market worth some EUR 237 mln.