The value per share fell to RON1.1919, from RON1.2004 per share in the previous month.
However, the fund reported a 57.3% rise in net profit to RON445.9 million (EUR106.8 million) in May, from RON283.4 million a month earlier. The increase was largely due to dividends registered in advance at portfolio companies.
Fondul Proprietatea, managed by Franklin Templeton, owns shares in 81 companies. The fund estimates it will cash in total dividends worth around RON400 million in 2011, mostly from oil refiner OMV Petrom (SNP.RO).
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
The fund was floated on the Bucharest Stock Exchange on January 25.
End-May, foreign investors held around 32.52% in Fondul Proprietatea, while Romanian investors owned together a stake of 42.23%. Romanian Finance Ministry holds 25.25% of the fund’s shares.
Wednesday, Fondul Proprietatea’s shares closed up 0.09% at RON0.535. (EUR1=RON4.1756)