EnglishThe significant drops experienced by most stocks on the Bucharest Stock Exchange in May have encouraged SIF "Moldova" (symbol:SIF2) to continue its stock acquisitions, by acquiring 660,000 shares of Banca Transilvania (symbol:TLV), at an average price of 1.47 lei/share, with a total cost of almost 1 million lei.
SIF "Moldova" has set a very ambitious investment plan for this year, as it intends to invest around 140 million lei in stocks. So far it has created a portfolio of liquid stocks, even though some of those holdings are rather small, and it is looking to increase those holdings.
Also last month, SIF "Moldova" has acquired an additional 200,000 shares of "Biofarm" Bucureşti (symbol:BIO), for which it has paid a little over 7,000 Euros, as well as shares of "BRD - Groupe Societe Generale" (symbol:BRD) for which it paid 2.36 million lei.
The most significant purchases over the last month were the shares of the "Proprietatea" Fund, for which SIF "Moldova" paid approximately 16 million lei. This is one of the largest purchases made by any of the five Financial Investment Companies in 2010.
Its investment strategy has made SIF "Moldova" the most profitable of the five FICs in the first quarter. The company posted a net profit of 10.5 million lei in Q1, 2.5 times higher YOY. SIF2 2 was also an active buyer in the first months, acquiring stocks worth over 20 million lei.
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