SIFs' Net Asset Value Up 1.4% In 1Q, To RON7.3B

04.15.2011 By Andrei Circhelan

The net asset value of Romania’s five regional investment funds, or SIFs, rose 1.4% in the first quarter of 2011, to 7.291 billion lei (EUR1=RON4.0966), held back by the 0.5% decline in asset value posted by SIF Transilvania (SIF3.RO).

The net asset value of Romania's five regional investment funds, or SIFs, rose 1.4% in the first quarter of 2011, to 7.291 billion lei (EUR1=RON4.0966), held back by the 0.5% decline in asset value posted by SIF Transilvania (SIF3.RO).

At the end of 2010, the SIFs had a cumulated net asset value of RON6.979 billion.

SIF Transilvania is the only fund whose net asset value dropped in the first quarter, to RON1.498 billion, from RON1.506 billion. In March, the value dropped 1.3% on the month, from RON1.519 billion at the end of February.

However, SIF Transilvania concluded the first three months of the year with the highest profit among the SIFs, namely RON23.7 million, despite a loss of RON450,000.

SIF Moldova (SIF2.RO) assets rose 2.8% on the month in March and 8.6% since the beginning of the year, to RON1.239 billion. The fund posted a profit of RON1.4 million, increasing its annual earnings to RON10.4 million.

SIF Muntenia (SIF4.RO) assets rose 2.9% on the month and 6.8% since the beginning of the year, to RON1.508 billion. The fund posted a loss of RON6.4 million in March, bringing its annual result to a loss of RON4 million.

SIF Oltenia (SIF5.RO) assets rose 1.9% on the month and 5.8% since the beginning of the year, to RON1.648 billion. The fund returned to profit in March, bringing its annual results to RON863,000 so far.

The net asset value of SIF Banat-Crisana (SIF1.RO) rose 0.8% on the month and 2.5% since the beginning of the year, to RON1.395 billion. In March, the fund posted a loss of RON2.3 million, bringing its annual profit to RON302,000.

The Bucharest bourse rise 3.3% in March, and 13.3% since the beginning of the year.

At the same time, 10-share blue-chip index BET rose 1.1% on the month, with the bulk of investment targeting the SIFs, which rose 13% on average.

Since the beginning of the year, the BET index rose 12.5%, while the BET-FI index rose 22.3%.