Romania Proprietatea Fund’s Net Assets Rise To RON16.45B In March

04.15.2011 By Andrei Circhelan

Romanian investment fund Fondul Proprietatea (FP.RO) on Friday reported a 2.14% increase in its net assets to 16.455 billion lei (EUR1=RON4.0966) in March, from RON16.1 billion a month earlier.

Romanian investment fund Fondul Proprietatea (FP.RO) on Friday reported a 2.14% increase in its net assets to 16.455 billion lei (EUR1=RON4.0966) in March, from RON16.1 billion a month earlier.

The value per share rose to RON1.1942 at the end of March, from RON1.1691 in the previous month.

Fondul Proprietatea, managed by Franklin Templeton, reported a profit of RON11.7 million in March, compared with RON2.3 million in February.

End-March, the fund owned shares in 83 companies, of which 30 are traded on a bourse.

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

The fund was floated on the Bucharest Stock Exchange on January 25.

End-March, foreign investors held around 29% in Fondul Proprietatea, while Romanian investors owned together a stake of some 34%. The Romanian finance ministry holds 36.79% of the fund's shares.

Friday, Fondul Proprietatea's shares closed down 0.85%, to RON0.586.