The result was boosted by a profit of about RON120 million made in March, when the fund sold most of its holdings in Erste Bank.
At the end of March, SIF Moldova owned 3.03% in Erste, down from 16.44% a month earlier.
Also in March, SIF Moldova purchased 4.35% in peer fund SIF Oltenia (SIF5.RO) and another 2.49% in SIF Muntenia (SIF4.RO). The five SIFs were cleared in late February to buy each other’s stock.
SIF Moldova’s net asset reached RON1.22 billion at the end of March, down 6.2% from RON1.3 billion in the previous year.
At around 5:00 pm, SIF Moldova’s shares traded up 1.59% at RON1.28 a share in Bucharest, amid a declining market. (EUR1=RON4.462)