What Sweden's East Capital sells and buys

Sweden’s East Capital investment company boosted its Romanian market exposure to 28.5m euros last year, with its main new investments being made in SIF Transilvania, Condmag and Transgaz stock. The Swedish, however, sold Impact, Flamingo stock and small Petrom stakes. East Capital is a major foreign investor on the Romanian capital market through Balkan and Eastern European open-ended investment funds. At the end of last year, the two funds’ placements on the Bucharest stock exchange amounted to 28.5m euros, 2.6 times more than the level registered in late 2008, but way below the 100m-euro exposure reported in 2007, according to the reports published by the manager. The progression of East Capital’s investments domestically was driven by the increase of the main stock market indices by over 60% in 2009, but also by the reorganisation of the two funds’ portfolios. Balkan fund, with net assets worth 118m euros in late 2009, had the biggest exposure on the domestic market, 17.13m euros, while Eastern European fund’s investments on the Romanian market were worth 11.4m euros at the end of last year.