SIF Moldova boss: We're already working on 2011 investment strategy

SIF Moldova (SIF2) is already drafting its 2011 investment strategy, working with external specialists, after having reached the profit level budgeted for the entire year in the first half and accumulated 125m RON in accounts.
With assets worth 1.12bn RON (264m euros) in its portfolio, SIF Moldova hit the 2010 profit target in the first six months of the year, gaining 57.2m RON (13.8m euros), particularly owing to BRD stock sales.
“We have a high exposure to banks and we’re mulling alternatives, as well as portfolio restructuring. However, we must see what we can replace banks with,” said Costel Ceocea, SIF Moldova chairman.
Responding to the new market conditions, SIF Moldova started restructuring its portfolio, trying to offset the negative impact of small dividends over revenues through speculations on the Stock Exchange.
“We will definitely continue our strategy of speculating on capital market issuers. We will also seek opportunities on foreign markets, with a higher predictability level,” Ceocea explained.
“The problem is not how we end this year, but how we prepare for 2011. Next year will be a difficult and little predictable one. We’re already working on our investment strategy for 2011 and we have contacts with external experts in this regard,” Ceocea added.