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SIF shares fall about 4% in early trading day

de     HotNews.ro
Vineri, 3 martie 2006, 0:00



Transactions with financial investment funds (SIFs) stocks returned at the Bucharest Stock Exchange on Friday but their value was falling by about 4% in the first half of the day, according to press agency reports.

SIF stocks had been suspended from transaction on Thursday adfter the Budget and Finance Commission of the House of Deputies ammended a piece of legislation earlier this week, regulating the threshold for SIF capital ownership.

The House move aims at limiting the possibility that few investors accumulate a large number of SIF stocks.

But the five SIFs sent a petition to the Romanian parliament on Friday asking for the renewed legislation to be completed with two new draft laws that would balance the threshold imposd by the House Commission.

SIF stocks were the highlight of the day for much of 2005 with significant boosts caused by their involvement in the privatization of the Romanian Commercial Bank – BCR.

The five SIFs reported improvements at the start of 2006 with net assets of 1.64 billion euro, up 72.2% compared to January 2005.






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