The shareholders of SIF Muntenia approved the change of the company's name to Longshield Investment Group

The shareholders of SIF Muntenia (SIF4) approved, in the extraordinary meeting at the end of last week, the change of the name of the company to Longshield Investment Group, according to a report of the company published yesterday on the website of the Bucharest Stock Exchange (BVB).

SIF Muntenia is the last financial investment company to change its name, after SIF Banat-Crişana became Lion Capital, SIF Moldova became Evergent Investments, SIF Transilvania became Transilvania Investments, and SIF Oltenia became Infinity Capital Investments.

Lion Capital controls SIF Muntenia through the administrator SAI Muntenia Invest, a fact recognized by the Financial Supervisory Authority, but in reality also Infinity Capital Investments (formerly SIF Oltenia) after coordinating a concerted action a few years ago, to which ASF turned a blind eye, through which he changed the management of the company.

The managements of SIF Muntenia and Lion Capital have been accused by investors of using the companies' money to buy their own shares through intermediaries, which they then use indirectly in the general meetings of shareholders to keep themselves in office.

Currently, the three SIFs are completely off the radar of investors, including pension funds that fled Infinity Capital Investments after the Lion Capital-led group took over the company's management. At the end of last year, no Pillar II pension fund had SIF4 shares.

For the month of December last year, SIF Muntenia reported a Net Asset Unit Value of 2.9918 lei, which compared to the SIF4 share price at the end of last week, of 1.5 lei, is equivalent to a 50% trading discount . The stock market valuation of the SIF amounts to almost 1.2 billion lei.