-1 C
January 17, 2022

Proprietatea Fund posts net profit of 471.1 mln lei on September 30

The Proprietatea Fund (FP) posted, in the first nine months of 2015, an unaudited net profit of 471.1 million lei, down by 52.1pct from the same period a year earlier, when the profit was 984.5 million lei, according to the financial results sent on Friday to the Bucharest Stock Exchange (BVB).

The results significantly better in the quarter ended on September 30, 2015 compared to the same period of the previous year were largely owed to the higher dividend revenues from the companies in the Fund’s portfolio in Q3 2015.

On September 30, the Fund’s capital stood at 8.26 billion lei, compared to 8.67 billion lei on June 30, 2015.

The FP was set up on December 28, 2005 as a joint stock company which operates as a closed-end investment business. Since September 29, 2010, the FP’s the sole manager has been Franklin Templeton Investment Management Ltd United Kingdom, Bucharest Branch, whose mandate was renewed on September 30, 2014 for a period of two years.

On January 22, 2011, the Fund shares were listed on the BVB, and on April 29, 2015, its Global Deposit Certificates were listed on the London Stock Exchange – Specialist Fund Market.

The total number of the Fund shareholders on June 30, 2015 was 8,548. Its shareholding structure at the same date was the following: The Bank of New York Mellon (the depository bank of the Global Deposit Certificates) – 26.21pct, foreign institutional shareholders – 24.59pct, Romanian individuals – 19.98pct, Romanian institutional shareholders – 11.36pct, the Fund’s own shares – 9.39pct, non-resident individuals – 5.45pct and the Ministry of Public Finance – 3.02pct.

Related posts

Gasoline over-excise leads to budget losses of EUR 11 M

Nine O' Clock

Q1 wind power output matches 2010 equivalent

Nine O' Clock

EximBank, awarded for supporting the exporters

Nine O' Clock