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SIFs drop 3.6% in one day

Autor: Adrian Cojocar

08.11.2010, 23:03 4

Theshares of the five financial investment companies (SIF) saw asignificant decline, by an average 3.6% in yesterday'ssession.

Yesterday's rather steep correction comes after the last fewweeks saw SIFs on a slightly downward path, with liquidityremaining extremely low for this period, which brokers blame on thepolitical uncertainty and on the failure to adopt measures tostabilise the economy.
"Investors have started to lose their patience after the StockExchange had a hesitant progression over the last few months. Ithink this and the low liquidity are the main factors that havebrought about today's (Monday's i.e.) correction. Moreover, futureprospects are not favourable, either," says Mihai Mure[ian, traderwith Intercapital Invest brokerage.
Since the beginning of the year, SIFs have fetched investors anaverage negative yield of 4.8%, with the most affected being sharesof SIF Transilvania (SIF3), which lost 19% during the sameperiod.

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