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Best investment companies of 2004

26/01/2005 11:32
In a year when the Cyprus Stock Exchange accumulated significant losses of 10%, four investment companies managed to fall into positive territory. The four companies focused mostly on foreign investments and the Bank of Cyprus shares, which gained 16% in 2004. The Popular Bank, which showed an increase of 4%, contributed heavily to their profitability.

Cytrustees International (investments exclusively abroad) ranks first among the investment companies since the net asset value of its portfolio recorded an increase of 3.98% compared to 2003. Cytrustees Investment (investments exclusively in Cyprus) with gains of 1.91% ranks third. The portfolio of the investment company as at 31.12.2004 included: 19.73% BOC, 12.35% cash and deposits, 12.26% CPB and 12.33% government bonds.

Apollo Inv. had the second best performance, the net value of which increased to 3.03%. The Apollo portfolio included shares of BOC in the CSE and the ASE (18.54%), CPB shares and bonds (13.82%), units in foreign mutual funds (8.97%) and Greek government bonds.

Of the remaining 20 investment companies, Triaina managed to stay in positive territory: Its portfolio inched up 0.12%. Ishis (-27.28%), Stario Inv (-19.01%) and Harvest Capital (-18.39%) had the worst portfolios.