The fund revised its profit estimations for 2013, now expecting a net result of RON502.25 million, down from RON570.48 million previously seen. The profit is seen lower than the figure included in the budget due to the launch of a share buyback program which is currently underway.
The budget for 2014 and the revised figures for this year do not include potential changes in the fund’s portfolio.
Proprietatea expects total revenue to fall 6.1% in 2014 to RON631.91 million, on lower interest income.
Franklin Templeton, the fund’s manager, also proposed a share capital cut by RON676.9 million to RON12.861 billion. (EUR1=RON4.437)