SIF Muntenia (SIF4.RO) and SIF Banat-Crisana (SIF1.RO) posted the greatest increase in net asset value, namely 6.5% and 5.9% respectively.
SIF Muntenia’s net asset value rose to 1.27 billion lei (EUR293 million) in November, from RON1.192 billion, after the fund gave a 3% stake in BCR for a 0.67% stake in Erste.
At the end of November, the fund’s unlisted shares were worth RON334.6 million, down 27% on the month. At the same time, the overall value of listed shares stood at RON830 million, up 32% on the month.
In November, SIF Muntenia posted a net profit of nearly RON30 million, bringing its profit so far in 2011 to RON33.6 million.
The net asset value of SIF Banat-Crisana (SIF1.RO) rose 5.9% to RON1.307 billion, from RON1.234 billion at the end of November.
The fund’s unlisted shares were worth a total RON294.5 million at the end of November, down 27% from RON403.4 million in October. At the same time, listed shares were worth a total RON775.7 million, up 15% from RON672 million.
In November, the fund collected RON50.7 million and a 0.45% stake in Erste for a 2.63% stake in BCR. Thus, the fund’s net profit rose to RON67.2 million, from RON22.4 million at the end of October.
The net asset value of SIF Moldova (SIF2.RO) rose at a slower pace, to RON1.07 billion, from RON1.03 billion.
At the same time, net profit rose to RON189.4 million from RON89.7 million, as the company collected RON23.6 million from Erste for a 1.25% stake in BCR.
Thus, SIF Moldova tops the chart in terms of annual profitability so far.
At the end of November, unlisted shares owned by SIF Moldova were worth RON307.8 million, up 3% on the month, while listed shares were worth RON663.1 million, up 3% as well.
This week, SIF Moldova sold the remaining 4.74% stake in BCR, in exchange for a 1% stake in Erste.
SIF Transilvania (SIF3.RO) net assets rose by 1.4% on the month in November, to RON1.276 billion.
The fund sold in the beginning of this month its entire 6% stake in BCR, for RON123.6 million and a 1% stake in Erste.
At the end of November, SIF Transilvania’s unlisted shares were worth a total RON535.1 million, up 2% on the month, while listed shares were worth RON626.6 million, down 1% on the month.
SIF Oltenia (SIF5.RO) was the only fund to see a decrease in net asset value, to RON1.444 billion, down 0.9% on the month.
At the end of November, the fund’s unlisted shares were worth RON390.8 million, up 3% on the month, while listed shares were worth a total RON1.039 billion, up 4% on the month. (EUR1=RON4.3409)