The over 4 million Romanians who contribute 3% of their gross monthly income to one of the eight funds have thus found out after three years that they finance, without their knowledge, UK banks or car manufacturers in Germany. The eight funds invested around 130 million lei in foreign shares, such as those of BMW, Daimler and Louis Vuitton and a further 308 million lei in corporate bonds, such as those issued by UK banks Royal Bank of Scotland, Lloyds and the Bank of Ireland. Investments of the eight funds on the Bucharest Stock Exchange amounted to 300 million lei, with the biggest investments targeting the five SIFs (Financial Investment Companies), Petrom and BRD, while investments in bonds issued by Romanian companies amounted to 50 million lei. Two thirds of the cumulated assets of the eight funds, i.e. around 2.2 billion lei, are invested in Romanian T-bills.
Access Investments-Building Awareness - European Union-ROMANIA
Thursday, May 5, 2011
The over 4 million Romanians who contribute 3% of their gross monthly income to one of the eight funds have thus found out after three years that they finance, without their knowledge, UK banks or car manufacturers in Germany. The eight funds invested around 130 million lei in foreign shares, such as those of BMW, Daimler and Louis Vuitton and a further 308 million lei in corporate bonds, such as those issued by UK banks Royal Bank of Scotland, Lloyds and the Bank of Ireland. Investments of the eight funds on the Bucharest Stock Exchange amounted to 300 million lei, with the biggest investments targeting the five SIFs (Financial Investment Companies), Petrom and BRD, while investments in bonds issued by Romanian companies amounted to 50 million lei. Two thirds of the cumulated assets of the eight funds, i.e. around 2.2 billion lei, are invested in Romanian T-bills.
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