CFDs save SIRA funds from Stock Exchange decline

Mutual funds Omnitrust and Omninvest managed by SIRA were the top performers of the first half of the year with yields of 30%, and 26% respectively, gaining from the Stock Exchange decline via short investments on the American S&P500 index.
“Omnitrust is an opportunity fund, speculates intermediate trends, it is similar to a hedge fund. More than half the 2.5 million-RON assets of the fund are placed in bank deposits, around 10% of the assets are placed in two RASDAQ issuers which I regard as strategic, while the rest are allocated to investments in the euro-dollar pair and in contracts for difference based on American index S&P500,” said Marius Olteanu, executive manager of SIRA.
In the first half of the year, the leading Bucharest stock exchange index BET appreciated by a mere 1%, while a large share of mutual fund yields barely exceeded 5%. Equity fund Active Dinamic, last year’s top performer, ended last year with a 2.7% loss.
The two funds managed by SIRA have 5 million RON in assets from over 4,400 investors. SIRA is 65% controlled by Vienna International Holding, with individual shareholders including D`nil` Nicolae Alexandru, who is related to the former BCR chief executive.