The mentioned act should take place in 2020.

The Chamber of Deputies, the decision-making chamber, adopted the law on alternative investment funds (AIF) yesterday, which repeals the normative act by which investors are capped by a 5% ownership threshold in all 5 listed SIFs.

After the mentioned vote, the law goes for promulgation to the president, and the legislator gives a period of 6 months to Fondul Proprietatea and SIFs to submit the documentation related to the qualification under one of the categories of alternative investment funds. Therefore, the mentioned act should take place in 2020.

Such news had a positive reaction on the SIFs share price, as they increased by 4-5% during yesterdays trading session.