Geno Tonev: BSE will be guided mostly by the financial reports and the forthcoming large IPOs

Geno Tonev: BSE will be guided mostly by the financial reports and the forthcoming large IPOs

BSE will be led mostly from corporate financial news, such as financial reports, capital increases, public companies' expansions, as well as large, forthcoming IPOs, declared in front of Geno Tonev, a portfolio manager of Market Maximum Mutial Fund.

According to Tonev, the positive trend of the capital flow will continue and thus, an additional market liquidity will be formed.

Regarding the upcoming public offerings, Tonev predicts strong interest, in view of the small range of the market and the high assessment results, achieved by some of the public companies.

The growth during the past few months will not reoccure for certain, which opens another opportunity for every new company to make a strong debut on the market, added G. Tonev.

From his point of view, interest towards the market will exist both from local and foreign investors, especially if the emissions involve comparatively large free float after the IPO and large capitalization.

In view of the special characteristics of the bulgarian economy (development of the construction business and infrastructure, application of energy-saving technologies), as the most interesting IPOs, Geno Tonev determines Trace Group Hold and Enemona.

Market Maximum Mutual Fund controls stocks to total value of 6.169 mln leva. The increase for the last month is 2.88 mln leva, or 87.33%, shows BSE's data research.

He anticipates by the end of the year, the net value of the company's assets to go beyond 10 mln leva. In comparison, by the end 2006, Market Maximum managed 953 000 leva. 

The Mutual Fund attained profitability of 37.89% for the last six months, though since the beginning of the year it amounts to 66.99%. The companies of great importance in Market Maximum's portfolio are as follows: Holding Roads Plc - 7,76%; Aktiv Properties REIT - 4.89%; Chimimport AD - 4.57; Bulstrad Plc - 3.59% and Orgachim AD - 3.38%.

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