With assets under managementworth 67.5m lei (16m euros), BT Maxim is the biggest equity funddomestically. At the end of last year, the fund's biggestinvestments were the shares of the five financial investmentcompanies (SIF), with a cumulated weight of over 37% in assets. Thefund has more than 2,265 investors.
The bet on SIFs has kept theequity fund at a distance from the five best-performing mutualfunds. The index of the five SIFs dropped by almost 8% and the fundended 2010 with a 1.1% yield, below the 18.3% performance oftop-performer Omninvest.
"Exposure to SIFs did nothelp us last year as it was an indirect bet on the rebound of theeconomy. While in early 2010 economic rebound outlooks were stillstrong, the situation deteriorated subsequently and SIFunderperformed other sectors on the Bourse. For 2011, I expect theeconomy to pick up, though, and return to growth, and the financialfield will be the first to benefit from this," said RaduHanga.
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