The fund posted a loss of RON2.1 million in April, the second month in a row that ended in red for Proprietatea.
At the end of March, the fund reported assets of RON15.99 billion and a loss of RON1.5 million.
In both March and April, the Bucharest bourse’s general index BET-C posted declines. Proprietatea’s listed stock portfolio was valued at RON6.1 billion at the end of April, down 3.36% from RON6.35 ain the previous month.
On the other hand, the value of unlisted stocks rose 2.3% to RON9.36 billion, Proprietatea said in a report.
The oil and gas sector has the largest weight in the fund’s assets, with 37.9%. Around 31.7% of Proprietatea’s assets are in the electricity production sector, while participations at transport, distribution and supply electricity or gas companies account for 19.9% of the fund’s assets.
Foreign investors held 46.3% of Fondul Proprietatea’s stock at the end of April, with US hedging fund Elliott Associates controlling 13.9% and City of London holding 7.2%.
Fondul Proprietatea was created in 2005 to compensate owners whose properties were seized by the communist regime. The fund was listed in Bucharest in January 2011.
Tuesday, the Proprietatea traded down 2.8% in a decreasing market. (EUR1=RON4.4373)