In January through March 2011, SIF Transilvania posted a net profit of RON23.7 million.
The fund’s net assets stood at RON1.42 billion at the end of March, up 6.5% from RON1.3 billion in December last year.
Peer fund SIF Moldova (SIF2.RO) reported a net profit of RON25.9 million (around EUR6 million) in the first quarter, up from RON10.4 million a year earlier. The fund posted net assets of RON1.2 billion at the end of March.
SIF Banat-Crisana (SIF1.RO) was the third most profitable SIF in the first quarter. The fund posted a net profit of RON19.5 million at the end of March, well above RON0.3 million in the same quarter a year before. The fund’s net assets stood at RON1.36 billion.
SIF Oltenia (SIF5.RO) posted a net profit of RON17.1 million in the first three months, from RON0.74 million in the first quarter of 2011. The fund had assets worth RON1.65 billion at the end of March.
The last of the five regional funds, SIF Muntenia (SIF4.RO) swung to a net profit of RON4.3 million in January through March, versus a loss of RON4 million in the same period a year earlier. The fund reported net assets of RON1.26 billion.
The combined net assets of the five SIFs reached RON6.83 billion (EUR1.5 billion) in the first quarter, up 8% from RON6.38 billion at the end of December.
In March compared with February, the SIFs’ aggregate net assets inched up 0.9%. (EUR1=RON4.3733)