In May and June, foreign investors withdrew a part of the money they invested in emerging markets, anticipating the Fed will reduce the program aimed to stimulate the U.S. economy. Therefore, their cumulated stake in Fondul Proprietatea dropped by 0.54 percentage points, from 56.68% at the end of April.
Since the fund’s listing on the Bucharest Stock Exchange in January 2011, foreign investors have bought over 42% of Proprietatea shares. End-2010, foreign investors held nearly 14% of the fund’s shares.
The fund reported a total number of shareholders of 8,020 at the end of August, down from 8,195 in the previous month.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
In Bucharest Friday, Fondul Proprietatea closed down 0.37% at RON0.6775 a share. (EUR1=RON4.4725)