In January-November of last year, the fund posted net profit of RON569.41 million.
End-November, the fund posted net assets of RON15.15 billion, up 1.88% on the month.
Around 56.5% of Fondul Proprietatea’s assets were listed equities in April, while 42.57% non-listed equities. Net cash and receivables stood at 0.98% of the net asset value.
On Thursday, the fund said it had sold its 15% stake in natural gas transporter Transgaz (TGN.RO) for RON303.4 million. The exit price was RON172 a share, 3.3% below the latest market price of RON177.9.
The fund will likely use the proceeds to finance its share repurchase program.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
End-November, foreign investors held 61.54% of the fund’s shares, while residents had 29.58%. Fondul Proprietatea owns 8.86% of its own shares, bought via two repurchase programs.
Friday morning, Fondul Proprietatea traded up 0.12% at RON0.833 a share. (EUR1=RON4.4527)