Fercala has radically changed SIF3 strategy in just six months

SIF Transilvania (SIF3), the biggest of the five financial investment companies (SIF), has dramatically reshuffled its investment strategy from the “complete portfolio restructuring and making it more liquid” announced at the beginning of the year in the strategy for 2010-2011, to “wealth conservation” applied in recent months.
SIF3 management accounts for the change of vision by the worsening situation of the economy and capital market, though prognoses were not upbeat at the start of the year, either.
With net assets of 1.5bn RON (353m euros) under management, SIF Transilvania is a major investor on the domestic capital market. In recent months, though, the company has been almost absent from the stock exchange, preferring to sell only when the exit brought it consistent gains and preserve its portfolio for “better times”.
“Under these crisis conditions, it’s preferable for us to preserve our wealth waiting for better times and not spread it only to the end of hitting the budgeted profit indicator by all means (…),” said Mihai Fercala, SIF Transilvania chairman.