In January, Fondul Proprietatea registered a loss of RON502 million (EUR113 million), following reassessment under IFRS.
In 2014, the fund had a record profit of RON1.012 billion, up 48% from 2013.
Net asset value was at RON12.6 billion (EUR2.86 billion) at the end of March, down from RON13.24 billion at the end of December. In March 2014, the net asset value was at RON14.25 billion.
FP’s portfolio of listed stock fell to RON6 billion compared with RON6.487 billion in December, following reassessment under IFRS.
Its unlisted equity portfolio remained stable in the same period, at RON6.47 billion, compared with December and January.
FP’s net asset per share fell to RON1.1706 in March, compared with RON1.2125 in December and RON1.1829 in January.
At the end of March, FP’s portfolio included state paper of RON110 million, compared with RON194.6 million in December and bank deposits of RON44 million, from RON109.4 million in December.
Fondul Proprietatea is a closed-ended investment fund created in 2005 to compensate people whose properties were seized by the communist regime and could not be returned in kind. The fund was listed on the Bucharest Stock Exchange in January 2011. (EUR1=RON4.4104)