End-March, the fund posted net assets of RON15.23 billion, down 0.2% from a month earlier. In March 2012, the fund’s assets stood at RON15.99 billion.
has switched to a loss of 1.5 million lei (EUR0.34 million) in the first quarter, from a net profit of RON14 million in the year-earlier period.
Around 41.9% of Fondul Proprietatea’s assets were listed equities, while 53.2% non-listed equities. Net cash and receivables stood at 4.82% 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 17% stake, followed by investment management fund City of London with 9.69%.
Monday, Fondul Proprietatea closed down 2.09% at RON0.656 a share in Bucharest. (EUR1=RON4.3806)