One of Mobius' funds becomes SIF shareholder
Investment fund Frontier Markets, managed by Templeton Asset
Management, run by Mark Mobius, became a shareholder of the five
Financial investment Companies (SIFs), holding 0.8% in the capital
of each.
The fund's cumulated interests in the five SIFs amounted to 7.86
million dollars at the end of last year, according to the quarterly
report of the detailed portfolio, issued with one month's delay. At
the end of last year, Frontier Markets fund had around one billion
dollars in net assets, with the fund's biggest holdings being in
companies in Nigeria, Qatar and the United Arab Emirates.
The Frontier Markets fund held on to its stake of around 1.2% in
the Bucharest Stock Exchange, the main market operator on the
Romanian capital market.
Thanks to high stock exchange liquidity, in the past few years SIFs
have been targeted by several foreign investors, among which an
investment vehicle of Swedish company IKEA, which was reported as
holding a 1.07% share in the capital of SIF Moldova (SIF2) at the
end of last year.