Investment fund Frontier Markets, managed by Templeton AssetManagement, run by Mark Mobius, became a shareholder of the fiveFinancial investment Companies (SIFs), holding 0.8% in the capitalof each.
The fund's cumulated interests in the five SIFs amounted to 7.86million dollars at the end of last year, according to the quarterlyreport of the detailed portfolio, issued with one month's delay. Atthe end of last year, Frontier Markets fund had around one billiondollars in net assets, with the fund's biggest holdings being incompanies in Nigeria, Qatar and the United Arab Emirates.
The Frontier Markets fund held on to its stake of around 1.2% inthe Bucharest Stock Exchange, the main market operator on theRomanian capital market.
Thanks to high stock exchange liquidity, in the past few years SIFshave been targeted by several foreign investors, among which aninvestment vehicle of Swedish company IKEA, which was reported asholding a 1.07% share in the capital of SIF Moldova (SIF2) at theend of last year.
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