Mutual funds Omnitrust and Omninvest managed by SIRA were thetop performers of the first half of the year with yields of 30%,and 26% respectively, gaining from the Stock Exchange decline viashort investments on the American S&P500 index.
"Omnitrust is an opportunity fund, speculates intermediate trends,it is similar to a hedge fund. More than half the 2.5 million-RONassets of the fund are placed in bank deposits, around 10% of theassets are placed in two RASDAQ issuers which I regard asstrategic, while the rest are allocated to investments in theeuro-dollar pair and in contracts for difference based on Americanindex S&P500," said Marius Olteanu, executive manager ofSIRA.
In the first half of the year, the leading Bucharest stock exchangeindex BET appreciated by a mere 1%, while a large share of mutualfund yields barely exceeded 5%. Equity fund Active Dinamic, lastyear's top performer, ended last year with a 2.7% loss.
The two funds managed by SIRA have 5 million RON in assets fromover 4,400 investors. SIRA is 65% controlled by ViennaInternational Holding, with individual shareholders includingD`nil` Nicolae Alexandru, who is related to the former BCR chiefexecutive.
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