Cumulative level of five SIFs net assets, up to 8.15 billion lei in May

The cumulative level of the net assets of the five SIFs (Financial Investments Society) was 8.15 billion lei in May, up 5.8 pct from the level recorded at the end of April, reads a press release of the Association of Fund Managers in Romania.

"Following the evolution of the net assets in the reported month, we can see that the five SIFs registered only positive developments, with a 7.5 pct growth in SIF Moldova, 6.4 pct at SIF Transilvania, 6.3 pct at SIF Oltenia, 4.6 pct at SIF Banat-Crisana and 4.1 pct at SIF Muntenia," reads the quoted document.

The discount on which the shares of the five SIFs are traded in the market ranges between 43 pct for SIF Transilvania and 54.4 pct for SIF Banat-Crisana.

"By structurally analyzing the assets at the end of May we notice that, taking the SIFs together, the short-term investments appreciated by 4.4 pct as compared to April, reaching about 6 billion lei. The share of short-term investment in the total assets fell to 69.5 pct in May (70.3 pct in the previous month). The quoted shares, which amounted to 5.9 billion lei (on all SIF portfolios) at the end of April, rose by 4.3 pct, to 6.1 billion lei at the end of May. Their share in overall SIF assets at the end of the reported month was 71.2 pct, down from the previous month (72 pct share)," according to AAF.

In May, SIF Muntenia had the highest liquidity, trading 4.6 pct of its shares and the lowest, SIF Transilvania with only 0.9 pct.