Julius Baer unfroze its portfolio but did not sell large company shares on the Stock Exchange
Publish date: 04-01-2009Julius Baer, the largest foreign investor on the Romanian Stock Exchange, had a few minor sales between 31 July and 31 October 2008, after freezing its portfolio in the first half of 2008. The three Julius Baer funds present in Romania sold medium-sized enterprise shares listed on the Stock Exchange, but did not touch their large company stock packages.
According to reports filed at the end of the American fiscal year (31 October 2008), Julius Baer funds had investments in Romanian shares worth $86.3 million, over 3.6 times lower than investments at the end of July.
The fund's most important share package is in the Petrom oil company, worth $30.9 mln, almost half of the total value of the fund's investments on the Bucharest Stock Exchange (BVB). Rompetrol Rafinare shares rank second, with a market value of $4.85 mln, followed by Zentiva's shares, which were worth some $1.9 mln at the end of October.
Business Standard
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei