Hyposwiss Danube Tiger Buys Conpet Stock For 5.08 Mio EUR

Hyposwiss Danube Tiger, one of the largest foreign investors on the Bucharest Stock Exchange (BSE) after Julius Baer, holds 5.08 million EUR worth of shares in Conpet - Ploiesti (COTE), a company transporting oil products through dedicated pipe networks, according to the half-year report issued by the Swiss-based investment fund.

Hyposwiss Danube Tiger has an exposure of 3.52% on COTE stock, calculated at the net asset value of 144.4 million EUR reported at the end of the first half of the year.

Conpet is the second largest company on RASDAQ after Automobile Craiova with a market value of 65.28 million EUR. The company concluded last year with a turnover of 316.1 million RON and a profit of 66.9 million RON.

• No Romanian-issued bond left in the fund"s portfolio

According to the report issued for the first half of the year, Hyposwiss Danube Tiger had sold the two sets of Romanian bonds which equalled more than 8% of their assets. At the end of Q1, 2009, the fund had reported ownership of municipal bonds of the Bucharest City Hall in the amount of 2.23 million EUR with an interest rate of 4.125% and maturity in 2015 as well as other bonds worth 5.8 million EUR with a fixed interest rate of 5.75% and maturity in 2010.

Before the end of H1, 2009, Hyposwiss Danube Tiger also held 3.1 million EUR worth of stock in Antibiotice - Iasi and 2.4 million EUR worth of stock in Petrom - Bucharest. However the fund has exited both companies in the meantime.

At the end of 2008, the fund"s portfolio also included 2 million RON in municipal bonds issued by the Timisoara City Hall and 0.3 million RON in municipal bonds issued by the Alba Iulia City Hall.

The price of municipal bonds on the Bucharest Stock Exchange last year enabled investors to obtain over 20% as return annualized until maturity. Generally speaking, bonds generate returns equal to what banks offer for fixed-term deposits or even more.

The portfolio of the Swiss-based investment fund is equally divided between bonds and stock listed on the Stock Exchanges in Eastern Europe, Austria and Germany.