SIFs drop 3.6% in one day

The shares of the five financial investment companies (SIF) saw a significant decline, by an average 3.6% in yesterday’s session.

Yesterday’s rather steep correction comes after the last few weeks saw SIFs on a slightly downward path, with liquidity remaining extremely low for this period, which brokers blame on the political uncertainty and on the failure to adopt measures to stabilise the economy.
“Investors have started to lose their patience after the Stock Exchange had a hesitant progression over the last few months. I think this and the low liquidity are the main factors that have brought about today’s (Monday’s i.e.) correction. Moreover, future prospects are not favourable, either,” says Mihai Mure[ian, trader with Intercapital Invest brokerage.
Since the beginning of the year, SIFs have fetched investors an average negative yield of 4.8%, with the most affected being shares of SIF Transilvania (SIF3), which lost 19% during the same period.