BT's mutual funds hold no Banca Transilvania shares

Mutual funds managed by BT Asset Management, the investment management branch of financial group Banca Transilvania (BT), sold the shares they owned in Banca Transilvania in the first half, according to half-year reports of the two funds. At the end of last year, BT Maxim and BT Clasic together held some 300,000 shares of the bank, worth 85,000 euros (310,000 RON). “We had a position in Banca Transilvania, which we sold before the registration date for the participation in the capital increase. We intend to build a new position with these shares in the upcoming period,” Radu Hanga, general manager of BT Asset Management told ZF. However, the funds did invest in the shares of the other two listed banks, BRD and Carpatica. In the last few months, there have been a series of rumours going around on the capital market claiming that Banca Transilvania was trying to maintain the price of its own shares at a high level, partly through operations handled by its subsidiaries, one of which is BT Asset Management. “The operations carried out by BT Asset Management support the idea that this speculation is ungrounded,” specified Hanga.