SIFs hit budgeted profits but are far from 2009 figures

Four of the five financial investment companies (SIF) managed as early as the first 11 months of this year to go beyond net incomes budgeted for this year, but their cumulated figures are around 44% below the profits derived last year.
SIF Banat-Crișana (SIF1) and SIF Transilvania (SIF3) registered 15m RON (3.5m euros) each in November, thus beating the figures budgeted for this year.
After the first 11 months, SIF Banat-Crișana posted net income worth 64m RON (15m euros), above the targeted level, but 41% below the 2009 income. SIF Transilvania’s profits in the first 11 months amounted to 57m RON (13.4m euros), half last year’s level.
The negative trends of banking stocks, particularly of BRD and Banca Transilvania (TLV), which hold a significant weight in SIF assets, pushed SIF assets down against the end of last year. The steepest asset decline was registered by SIF Banat-Crișana, with a 15% contraction.