The council also grounded its decision on SAI Muntenia alleged breach of provisions on loss prevention and limitation.
Thus, SIF Muntenia’s stockholders representatives council summoned SAI Muntenia Invest to direct conciliation on canceling the administration deal, according to a statement sent to the Bucharest Stock Exchange and the Securities Commission.
The council, which was replaced July 7, is in charge with supervising the activity of the fund’s administrator.
At the end of June, SIF Muntenia held net assets worth RON1.171 billion, 5.3% lower compared with RON1.237 billion at the end of 2011.