Its net assets increased by 17.4% on the month end-December, to RON14.97 billion, mainly after registering the stake in state-owned hydropower producer Hidroelectrica, which had been assessed before at zero value according to the previous regulations of the National Securities Commission on assessing insolvent companies.
Besides evaluating the fund’s stake in Hidroelectrica at RON2 billion, performed by KPMG, other six unlisted stakes were independently evaluated.
The 9.7% stake in state-run energy producer Nuclearelectrica increased from RON497.63 million to RON648 million, the 21.5% stake in Complex Energetic Oltenia decreased from RON1.07 billion to RON880 million, while the 22% stake in E.ON Moldova Distributie dropped from RON399.7 million to RON324 million.
The 20% stake in CN Aeroporturi Bucuresti was evaluated at RON272 million, lower from RON322.41 million, the stake in Zirom decreased to RON36.29 million, from RON52.82 million, while the 25% stake in Posta Romana decreased to RON80.82 million, from RON96.42 million.
The fund continued to invest in state notes, increasing its portfolio value to RON454.73 million at the end of December, two-fold higher from RON195.9 million at the end of 2011.
Bank deposits increased 7% end-December to RON317.3 million, from RON RON296.35 million a year before.
By sectors, the fund’s overall stock portfolio includes 41.88% shares from oil and gas companies, 23.56% from utilities (production) companies, 21.33% from utilities (transport, distribution, supply) companies, and 2.92% banks.
Foreign investors increased their holdings in Fondul Proprietatea to 58.06% in December.
Romanian Finance Ministry’s stake was 2,65% in December, slightly down on the month.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
On the Bucharest stock market Tuesday, Proprietatea was trading up 0.34% at RON0.591 a share. (EUR1=RON4.3814)