Managers say only the listing of companies in which the stateholds stakes could generate a rise in mutual fund investments onthe Stock Exchange, currently at a 240 million-RON (57million-euro) low, 25% less than what they used to invest beforethe outbreak of the financial crisis.
Whilst in the summer of 2007, when the Stock Exchange was at ahigh, mutual funds placed 40% of their net assets in shares, now,after the market's leading shares became 45% to 70% cheaper, SIF(Financial Investment Companies) managers have an exposure of just5% of their assets to these instruments.
The 53 mutual funds continue to be marginal players on theBucharest Stock Exchange, investing only 240 million RON in shareseven though they manage 4.6 billion RON in net assets, andfavouring instead conservative placements such as bank deposits andsecurities, in which they invested over 3.6 billion RON, accordingto end-of-May statistics released by the Association of FundManagers (AAF).
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