Eaton Vance’s exposure on the Romanian market was of $22 million (€15 mln) at the end of September, according to the group’s reports, which invests on the local Stock Exchange through two investment funds, Eaton Tax-Managed Emerging Markets Fund and Eaton Structured Emerging Markets Fund.
Both invested in the same companies, acquiring shares from various sectors, such as oil, banking, pharmaceuticals, but also construction. The largest share packages are for the BRD and Banca Transilvania lenders, followed by Petrom, Rompetrol Rafinare, Antibiotice, Biofarm, and Impact.
The largest foreign investor on the Stock Exchange, Julius Baer, reached an exposure of some $85 million (€57 mln) at the end of July, according to the latest reports, compared to over $450 mln in July 2007. The market growth in the third quarter is estimated to have raised the value of the portfolio. Such was the case of the funds of Swedish East Capital company, whose exposure was of nearly €33 mln at the end of the third quarter, up 38 percent compared to the first six months. The main shares owned by East Capital are the financial investment companies (SIF) and Petrom, companies which appreciated sharply in Q3, as the BET-FI index climbed some 52 percent and Petrom gained 12 percent.
