Fercala has been at the fund’s helm since 1992 and his latest mandate as general manager, valid since 2007, expired on May 2.
SIF Transilvania reported a net profit of 23.78 million lei (EUR5.8 million) for the first quarter, compared to a loss of RON3.56 million in the same interval of 2010.
Revenue jumped, in the first three months of 2011, to RON58.96 million, from RON4.3 million in the year-earlier period, following sales of shares in the fund’s portfolio.
Expenditure almost quadrupled, to RON30.68 million, the fund recently said.
The company’s management expects a net profit of RON68 million this year, up 1.6% from 2010.
SIF Transilvania shares dropped 1.62% Monday, to RON0.577. (EUR1=RON4.1039)