Proprietatea Fund Authorized To Invest In NYSE Stock

05.11.2011 By Florentina Dragu

Romanian investment fund Fondul Proprietatea Wednesday said it has received approval from the securities commission CNVM to invest in companies listed on the New York Stock Exchange.

The request was filed by the fund's administrator, Franklin Templeton Investment Management.

Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.

The Finance Ministry is the fund's largest stockholder, with 37% of the shares.

Wednesday, Fondul Proprietatea's shares closed down 1.83% at RON0.535 in Bucharest.