SIF (financial investment companies) managers say Romaniancapital market turmoil is far from ending, expecting steeper stockprice declines in the following period. Against this backdrop,short-term speculations become SIFs' main profit source. With atotal wealth of 2bn euros, the five SIFs are among the biggestasset managers on the Romanian capital market and top the list ofBSE investors, earmarking tens of million euros for investments.The dramatic events of the past weeks, when stock market indicesdisplayed extreme fluctuations as a response to foreign news aboutGreece's situation and EUs 750bn euro bailout, upset SIF'sinvestment strategies. "Stock exchange trends of the past weeksshow something specific to a crisis period. We must adjust ourinvestment strategies to market volatility, so that we are nowdrawing up our strategies on short term, even weekly. I have afeeling that phenomena similar with those we have witnessed will beeven more frequent and we're expecting deeper declines during thefollowing period," said Costel Ceocea, SIF Moldova (SIF2)chairman.
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