Fondul Proprietatea shareholders choose SAI Muntenia Invest as administrator
Shareholders of Fondul Proprietatea (FP) voted on September 29 to appoint SAI Muntenia Invest, controlled by Lion Capital, as the fund’s new administrator for a four-year term starting in April 2027, after 16 years under Franklin Templeton.
iulian ernst · Journalist
· 1 min read
SAI Muntenia Invest received 86.1% of the votes cast by shareholders present or represented at the meeting, equivalent to 35.5% of the fund’s share capital, according to the results presented at the meeting, Ziarul Financiar reported.
The result did not depend on Lion Capital, which owns an 18.1% stake in Fondul Proprietatea. Even if Lion Capital had abstained or completely reduced its stake from the vote, SAI Muntenia would still have received around 75% of the remaining votes, according to ZF calculations.
INVL Asset Management, the other remaining candidate, received 2.9% of the votes in favour and 45.7% against. Franklin Templeton, which withdrew from the selection process on September 23, nevertheless received 9.4% of the votes in favour.
The meeting had a quorum of 44.8% of the voting rights.
SAI Muntenia’s mandate will begin on April 1, 2027 and end on April 1, 2031, provided that all legal requirements for its appointment are met by March 31, 2027. The decision will be officially communicated through a current report.
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