At the end of June, Proprietatea owned 0.32% in Erste, up from 0.25% in March, while its Raiffeisen holding grew to 0.55% from 0.43%, according to the fund’s financial report sent Friday to the Bucharest bourse.
The Erste stake was valued at 187.9 million lei (EUR44.2 million), while Raiffeisen shares were appraised at RON163.3 million (EUR38.5 million).
Proprietatea increased its stake in BRD as well, up to 2.24% from 1.69% at the end of March. The participation was valued at RON218.5 million.
In the second quarter, the fund started buying shares in Banca Transilvania and, at the end of June, it owned a 0.12% stake, assessed at RON2.3 million.
Proprietatea also increased its participation in Azomures (AZO.RO) to 10.74%, a stake appraised at RN44.6 million.
End-June, Proprietatea’s net assets were estimated at RON16.171 billion, down 1.4% on the month.
The banking sector accounts for just 3.8% of the fund’s net asset value. The highest weight in net assets comes from the oil and gas sector, as the fund’s 20.11% stake in OMV Petrom (SNP.RO) represents almost 27% of the total.
The energy production sector accounts for 32.2 of Proprietatea’s net assets, while the fund’s stakes in power and gas suppliers and distributors represent 18.1 of the asset value.
In a separate report Friday, the fund said its profit fell slightly in July, and amounted to RON541.5 million for the first seven months.
Friday, Proprietatea closed up 5.76% in Bucharest at RON0.4607. (EUR1=RON4.2784)