The fund posted a loss of RON7.5 million in the first month of 2014.
Net asset value per share inched down 0.78% to RON1.2339 at the end of January, the fund said in its monthly report.
The weaker figures were due to a 1.5% decline in the fund’s stock holdings in listed companies to RON8.11 billion, from RON8.23 billion in December last year.
Fondul Proprietatea’s holdings in unlisted companies held steady at RON6.37 billion.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
The fund reported a net profit of RON682.1 million in 2013, up 20.3% on the year, largely fueled by one-time income following the sale of its shares in natural gas transporter Transgaz (TGN.RO).
Wednesday, Fondul Proprietatea closed up 0.49% at RON0.82 a share in Bucharest. (EUR1=RON4.4779)