SIFs drop 3.6% in one day
The shares of the five financial investment companies (SIF) saw a significant decline, by an average 3.6% in yesterday's session.
Yesterday's rather steep correction comes after the last few
weeks saw SIFs on a slightly downward path, with liquidity
remaining extremely low for this period, which brokers blame on the
political uncertainty and on the failure to adopt measures to
stabilise the economy.
"Investors have started to lose their patience after the Stock
Exchange had a hesitant progression over the last few months. I
think this and the low liquidity are the main factors that have
brought about today's (Monday's i.e.) correction. Moreover, future
prospects are not favourable, either," says Mihai Mure[ian, trader
with Intercapital Invest brokerage.
Since the beginning of the year, SIFs have fetched investors an
average negative yield of 4.8%, with the most affected being shares
of SIF Transilvania (SIF3), which lost 19% during the same
period.