Best Performing Mutual Funds After Four Months

05.04.2011 ZF English

The bet on the shares of the five financial investment companies (SIFs) saw BCR Expert equity fund climb to no.1 among the top-performing mutual funds, with a yield of 16.6% in the first four months of this year.

The significant appreciation of Petrom and BRD shares also contributed to the yield of the top performer.

BCR Expert equity fund, with 15.9 million lei (EUR3.9 million) in assets and managed by Erste Asset Management, ended the first four months of this year with a 16.6% yield, the highest in the mutual fund industry, having invested the bulk of its assets in shares of the five SIFs, OMV Petrom (SNP.RO) and BRD (BRD.RO).

"We anticipated the corrections that occurred in April and reduced our exposure to Fondul Proprietatea (FP.

RO) shares. SIFs in particular and the financial sector as a whole remain a target for medium and long-term investments, but this year we believe there will be pressure on the price, so we have reduced our exposure," said Dragoş Neacşu, chairman of Erste Asset Management.

The second-best performers are two index funds managed by Certinvest, XT Index - built based on the stock exchange index of the 25 most liquid companies, with a 15.25% yield in the first four months and BET-FI Index with 14.8%. The two funds invest the bulk of the assets in the shares of companies in the structure of the two indexes.