SIF Transilvania (SIF3), the biggest of the five financialinvestment companies (SIF), has dramatically reshuffled itsinvestment strategy from the "complete portfolio restructuring andmaking it more liquid" announced at the beginning of the year inthe strategy for 2010-2011, to "wealth conservation" applied inrecent months.
SIF3 management accounts for the change of vision by the worseningsituation of the economy and capital market, though prognoses werenot upbeat at the start of the year, either.
With net assets of 1.5bn RON (353m euros) under management, SIFTransilvania is a major investor on the domestic capital market. Inrecent months, though, the company has been almost absent from thestock exchange, preferring to sell only when the exit brought itconsistent gains and preserve its portfolio for "bettertimes".
"Under these crisis conditions, it's preferable for us to preserveour wealth waiting for better times and not spread it only to theend of hitting the budgeted profit indicator by all means (...),"said Mihai Fercala, SIF Transilvania chairman.
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