The net combined assets of five investment funds (SIFs) dropped 2.4 percent in July down to 6.7 billion lei, but they were up by 1.7 percent from end-2013, show figures published by the Romanian Association of Investment Funds Managers on Monday.
In euro terms, the net assets amounted to 1.5 billion euros at end-July, i.e. by 1.7 percent lower than the levels hit at the end of June.
In July, only SIF Moldova recorded a growth in net assets at 0.96 percent, while the other four SIFs sustained shrinkages of their net assets as follows: SIF Transilvania at 6.9 percent, SIF Oltenia at 3.42 percent, SIF Banat Crisana at 2.43 percent and SIF Muntenia at 0.14 percent. In the seven months of this year, SIF Moldova with 6.97 percent, SIF Oltenia with 3.53 percent and SIF Transilvania with 0.07 percent recorded a growth in assets.
Short-term investments made by the SIFs in July slightly contracted by 0.2 percent by structure. The shares quoted on the stock exchange out of the category of the shares recorded in the overall short-term investments accounted for 90.1 percent of the overall SIFs (up from a 88 percent in the prior month), and the share of such stocks in the overall SIF assets climbed to 61.1 percent from 58.4 percent at the end of the prior month. The short-term investments accounted for 67.8 percent of overall SIFs at end-July (66.4 pct in June).
The quoted stocks that totalled 4.93 billion lei in the combined SIF portfolios at the end of the prior month slightly climbed to 5.02 billion lei (0.5 pct) and account for 69.2 percent of overall assets (67.3 pct in the prior month).
The overall non-quoted SIF stocks that totalled 1.2 billion lei at the end of the prior month and accounted for 16.1 percent of the combined assets were by 0.6 percent lower at end-July as compared to end-June to 1.1 billion lei and accounting for 16.5 percent of overall SIF assets.