However, compared with the first seven months of 2013, the fund’s net profit almost doubled in the January to July period.
End-July, Fondul Proprietatea reported net assets worth RON14.76 billion, down 0.6% from RON14.85 billion a month earlier.
A little over 49.7% of Fondul Proprietatea’s assets were listed equities, while 42.24% non-listed equities. Net cash and receivables stood at 8.02% of the net asset value.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
US hedging fund Elliott Associates is the fund’s largest shareholder, with a 15.22% stake.
At around 2:20 pm, Fondul Proprietatea’s shares traded flat at RON0.8615 in Bucharest, valuing the fund at RON11.66 billion. (EUR1=RON4.4372)