In 2012, the fund posted a record profit of RON212.2 million.
SIF Transilvania estimates revenues will reach RON300 million in 2013, down 6.3% on the year, while expenses are expected to rise 74% to RON123 million.
The fund has planned investments worth RON92.7 million in 2013, mostly in financial instruments.
SIF Transilvania’s shareholders will meet on April 20-21 to vote on the draft budget and on the business strategy for the next four years. Additionally, the stockholders are expected to discuss changing the fund’s managing structure from single to dual board.
The fund proposed paying out its shareholders a gross dividend of RON0.175 a share from the 2012 profit, slightly higher from RON0.1712 a share last year. Total dividends equal 90% of last year’s net profit.
At around 12:30 pm, SIF Transilvania traded down 0.14% at RON0.724 a share in Bucharest, amid a slightly declining market. (EUR1=RON4.4179)