Investment funds, which hold shares in the five SIFs (FinancialInvestment Companies) have become increasingly persistent indefending their rights, pressuring management of the SIFs to raisedividends, after waiting for years for stake caps to be raised. Atstake are tens of millions of euros.
Among the supporters of the proposal are Swedish investmentsfunds East Capital, equity fund ING Romanian Equity and localinvestment fund STK Emergent, all of which hold significant stakesin the five SIFs. The proposal is also backed by other powerfullocal investors, such as BT Asset Management and Dumitru Tudor. So,although managers of foreign or local funds are voicing theirinterest to increase stakes and speaking of their long-termpotential, they are no longer willing to let the money that isrightfully theirs to be used by SIF managers in a discretionarymanner.
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