Although top performers this year, the shares of the financial investment companies (SIF) seem determined to outrun the other shares listed on the Stock Exchange in terms of decline, as well. For no particular reason, the SIF shares have plunged over the last two months, when the BET-FI, that reflects the trend of the five SIF lost 23%. The overall Stock Exchange index, the BET has lost only 5% during the same period of time. By the end of September, the SIF shares had reached their all time high, after having increased for several months due the expected enactment of the special law to regulate the activity of the SIFs. The law is supposed to increase the maximum allowed participation in a SIF from the current 0.1% to 1%, which makes analysts expect the SIF share price to reach at least 50% of the NAV. SIF share prices skyrocketed this year, amounting to 3,000-3,900 ROL in September compared with 400 to 600 ROL early this year. The law, however, has not been enacted so far, and the substantial buy orders have gradually stopped coming in. The small investors preferred to sell and collect the April-September gain, while the major buyers chose a waiting game, realising they can buy cheaper. All this, along with information about the Court of Accounts' plans to check each of the five SIFs, led to a slight decline in the share prices. SIF Banat-Crisana fell to 3,050 ROL from 3,900 ROL, SIF Transilvania fell from 3,950 ROL to 3,050 ROL, while SIF Oltenia went down to 2,400 ROL from 3,400 ROL. ZF
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