SIF profit slower than asset growth

Most of the five financial investment companies (SIFs) enjoyed only modest profit growth in September due to a low number of transactions in the shares they hold. Some still saw the value of their assets increase significantly.

SIF Banat-Crisana’s net asset value (NAV) rose more than 7% last month alone, to a value of 9,750 ROL/share; while SIF Oltenia enjoyed an increase of nearly 5% up to 12,230 ROL/share. Top profit maker was again SIF Transilvania owing to its 562bn ROL (13.6 million euros) profits, the equivalent of 1,030 ROL/share, which remained almost the same as it was at the end of August. SIF Muntenia managed to catch up a little, achieving a 217bn ROL profit, as compared with 159bn ROL in August; however it still remains the last of the five SIFs. SIF Transilvania reached the number one spot due to the sale of around 4% in Rompetrol Rafinare (Petromidia) in the middle of this year, while the number two SIF Moldova (649 ROL/share profit) made large profits from investments on the monetary market. ZF