The increase was largely fueled by RON246.6 million proceeds from the sale of a 1.11% stake in Romania’s largest oil company OMV Petrom (SNP.RO), as well as from higher revenue from dividends.
The fund’s net assets inched up 0.18% on the month to a little over RON15 billion.
Around 37.6% of Fondul Proprietatea’s assets were listed equities in May, while 56.11% non-listed equities. Net cash and receivables stood at 6.3% of the net asset value.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
The fund has a share capital of RON13.77 billion lei, split into 13.77 billion shares with a face value of RON1.
At around 12:00 pm, Fondul Proprietatea traded up 0.16% at RON0.641 a share, amid a rising market. (EUR1=RON4.483)