The company’s profit fell less than 1% compared with RON798.2 million in January-October.
In January-November, Fondul Proprietatea only sold part of its holdings in Romgaz (SNG.RO), while last year, it fully sold its stakes in Erste Group Bank (EBS.RO), Raiffeisen Bank, Resib (RESI.RO), Turdapan (TUSB.RO), Transelectrica (TEL.RO), Transilvania-Com and Severnav (SEVE.RO), as well as part of its stake in Romgaz, Oil Terminal (OIL.RO) and Primcom.
In October 2015, FP sold a 4.15% stake in Romgaz for RON456 million, thus it currently holds a 5.84% stake in Romgaz.
This year, FP also sold stakes in companies delisted after the disbandment of Bucharest Stock Exchange’s Rasdaq market and a reduced stake in LukOil Petrotel, without a significant impact on the company’s financial results.
Net asset value was at RON11.61 billion at the end of November, down 2.7% from RON11.93 billion at the end of October and 17% lower compared with RON13.98 billion in November 2014.
FP’s portfolio of listed stock totals RON4.78 billion, while its unlisted equity portfolio totals RON6.54 billion.
At the end of November, Fondul Proprietatea’s top holdings were OMV Petrom – 28.08% of net asset value and Hidroelectrica – 18.76%.
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.