August 31, the fund’s portfolio was at RON25.2 million, representing 35% of total assets.
“Negative news on Chinese economy brought the market in a sector of accentuated over-sale, an area that provides a favorable ratio between the expected profitability and the undertaken risk over the next period. Thus, we increased the fund’s exposure upon the shares of companies in the oil sector and industrial metals, continuing the investments started a month before,“ the fund’s manager said in the monthly report.
STK Emergent’s net assets of RON70.9 million decreased 0.5% in August compared with the Bourse’s BET index fall by 8%.
The fund had benefits from the foreign currency pair Romanian leu/British pound. In August, the Romanian leu gained 3.7% against the British pound.
“Romanian leu appreciation compared with the British pound contributed to the slight decrease of the traded portfolio’s value during that month,“ the fund’s manager added.
(English version by Manuela Panescu)