BUSINESS

120 foreign funds invest in FP

120 foreign investment funds came to own 18 pc of Fondul Proprietatea (FP)’s shares, a proof of the great interest stirred in Europe by the biggest listing in the history of the Bucharest Stock Exchange, “Ziarul Financiar” reports. “In light of recent events in Japan, Romania has to win the interest and draw the money of investment funds to be able to face new economic conditions,” said Nicolae Ivan, the representative of the American fund Cartesian – among the first to join FP, in the summer of 2008. Alongside Cartesian, which owns 2.7 pc of the Fund, according to the latest official figures, the foreign funds which became FP shareholders also include an investment fund owned by the world’s top financial administrator, Black Rock, East Capital’s Swedish investment fund, as well as Charlemagne, Danske, Avaron and Trigon. After a spectacular debut at the Stock Market, which surpassed all expectations as regards the transaction volume, there seems to have been a lull in the trading of FP stocks, in the past few weeks. The daily volume of transactions slumped at approx. EUR 5 M, and stock price revolves somewhere around RON 0.6.

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