Greek-based Alpha AM, minus 20% in Romania

The Bucharest stock exchange brought investment fund Alpha Romania Foreign Balanced Fund, managed by Alpha Asset Management, a minus 19.4% yield in the first four months of the year, with SNP Petrom and BRD SG stock holding the biggest share in the Greek fund’s asset portfolio. The fund was set up at the beginning of last year and now manages assets worth around 28 million euros. “Being a balanced fund focused on Romania, Alpha Romania Foreign Balanced Fund can invest 65% of its assets in Romanian equity, according to its prospectus. Currently, around 30% of the fund’s investments are in Romanian government securities,” Dimitris Tamvakas, head of the development department for South-Eastern Europe, and senior fund manager at Alpha AM, told ZF. The Alpha investment fund, dedicated to the local market, saw a minus 19.41% yield in the first four months of the year, the lowest among the balanced funds managed by the Greek company, according to the company’s daily report.