Overall expenses declined 29% on the year to RON33.5 million, the fund said in its financial report.
SIF Muntenia posted a net profit of RON37 million in the first six months of 2013, down 29% year-on-year. The figure is unchanged from a monthly report published in July.
End-June, the fund posted net assets of RON1.02 billion, down 4% from December 2012.
Peer fund SIF Banat-Crisana (SIF1.RO) was authorized recently to acquire 99.96% in Muntenia Invest, sole administrator of SIF Muntenia. Last month, SIF Banat-Crisana announced it would pay RON8.25 million for 50.01% in Muntenia Invest, plus a variable amount depending on the evolution of the SIF Muntenia’s net asset.
At around 1:30 pm Tuesday, SIF Muntenia traded up 0.73% at RON0.69 a share in Bucharest, amid a slightly rising market. (EUR1=RON4.425)